T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan Sells 3,043 Shares of Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is available through this link.

T. Rowe Price Group Stock Down 0.9 %

Shares of T. Rowe Price Group stock traded down $1.03 during trading hours on Tuesday, reaching $111.05. 171,515 shares of the stock traded hands, compared to its average volume of 1,433,742. The company has a 50 day moving average price of $115.16 and a 200 day moving average price of $107.17. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 2.14 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.80%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $1.69 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its stake in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares during the period. OFI Invest Asset Management bought a new stake in T. Rowe Price Group during the 3rd quarter worth approximately $25,000. First United Bank & Trust purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Park Place Capital Corp boosted its position in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth $33,000. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Company Profile

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.