T. Rowe Price Group, Inc. (NASDAQ:TROW) VP Christopher D. Alderson sold 91,605 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $103.28, for a total value of $9,460,964.40. Following the sale, the vice president now directly owns 169,816 shares in the company, valued at $17,538,596.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down $0.30 during mid-day trading on Wednesday, hitting $103.14. 1,174,400 shares of the stock traded hands, compared to its average volume of 1,675,675. T. Rowe Price Group, Inc. has a twelve month low of $65.33 and a twelve month high of $105.36. The stock has a market cap of $25,064.55, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.90 and a beta of 1.32.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $1.17 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. equities research analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.
Several brokerages have weighed in on TROW. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, September 26th. Goldman Sachs Group raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Barclays began coverage on shares of T. Rowe Price Group in a research note on Friday, September 8th. They set an “underweight” rating and a $79.00 target price on the stock. Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and increased their target price for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Finally, UBS increased their target price on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $89.67.
A number of institutional investors have recently modified their holdings of TROW. Bronfman E.L. Rothschild L.P. lifted its stake in T. Rowe Price Group by 6.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after buying an additional 103 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in T. Rowe Price Group in the 3rd quarter valued at about $118,000. Grove Bank & Trust lifted its stake in T. Rowe Price Group by 178.7% in the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after buying an additional 840 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in T. Rowe Price Group by 5.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after buying an additional 89 shares in the last quarter. Finally, Sun Life Financial INC lifted its stake in T. Rowe Price Group by 19,500.0% in the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after buying an additional 1,755 shares in the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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