Insider Selling: T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Sells $449,318.24 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

T. Rowe Price Group Trading Down 0.1 %

Shares of NASDAQ:TROW opened at $107.17 on Friday. The stock’s 50-day moving average price is $114.54 and its two-hundred day moving average price is $112.40. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period last year, the business earned $1.72 earnings per share. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 54.15%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Barclays decreased their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $115.09.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after purchasing an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Fayez Sarofim & Co lifted its stake in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after purchasing an additional 425,142 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock valued at $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. raised its holdings in shares of T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after buying an additional 213,566 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.