T. Rowe Price Group Target of Unusually Large Options Trading (TROW)

T. Rowe Price Group Inc (NASDAQ:TROW) was the target of unusually large options trading activity on Tuesday. Traders purchased 1,628 put options on the stock. This represents an increase of 556% compared to the typical daily volume of 248 put options.

Several equities analysts recently commented on the stock. Morgan Stanley set a $112.00 target price on shares of T. Rowe Price Group and gave the company a “hold” rating in a report on Tuesday. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. UBS Group raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and increased their target price for the company from $75.00 to $110.00 in a report on Tuesday, January 9th. Finally, Bank of America raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $125.00 in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $100.60.

In other news, CFO Kenneth V. Moreland sold 14,419 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the sale, the chief financial officer now owns 125,264 shares in the company, valued at approximately $12,159,376.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kenneth V. Moreland sold 8,066 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total transaction of $839,831.92. Following the sale, the chief financial officer now owns 100,796 shares in the company, valued at approximately $10,494,879.52. The disclosure for this sale can be found here. Insiders sold a total of 204,980 shares of company stock worth $20,776,729 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Alpha Cubed Investments LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at about $256,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in T. Rowe Price Group by 59.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,580 shares of the asset manager’s stock valued at $18,183,000 after acquiring an additional 74,687 shares during the period. Prudential Financial Inc. lifted its position in T. Rowe Price Group by 94.1% during the 3rd quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock valued at $64,295,000 after acquiring an additional 343,926 shares during the period. California Public Employees Retirement System lifted its position in T. Rowe Price Group by 4.0% during the 3rd quarter. California Public Employees Retirement System now owns 630,687 shares of the asset manager’s stock valued at $57,172,000 after acquiring an additional 24,012 shares during the period. Finally, Reliance Trust Co. of Delaware purchased a new position in T. Rowe Price Group during the 3rd quarter valued at about $304,000. 71.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of T. Rowe Price Group (TROW) traded up $2.59 during trading on Wednesday, reaching $108.32. 1,279,203 shares of the company’s stock were exchanged, compared to its average volume of 1,896,045. The company has a market cap of $25,425.59, a price-to-earnings ratio of 17.71, a PEG ratio of 1.23 and a beta of 1.28. T. Rowe Price Group has a 1-year low of $66.70 and a 1-year high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. analysts anticipate that T. Rowe Price Group will post 7.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Wednesday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s dividend payout ratio (DPR) is 38.19%.

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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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