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

T. Rowe Price Group, Inc. (NASDAQ:TROW) Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

T. Rowe Price Group Trading Up 0.7 %

Shares of TROW stock opened at $110.30 on Thursday. The firm has a fifty day moving average price of $115.19 and a 200 day moving average price of $107.25. The company has a market cap of $24.63 billion, a P/E ratio of 13.10, a PEG ratio of 2.08 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.45 EPS for the current year.

Hedge Funds Weigh In On T. Rowe Price Group

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after acquiring an additional 134,839 shares in the last quarter. Morgan Stanley boosted its stake in T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after acquiring an additional 25,012 shares in the last quarter. Northern Trust Corp boosted its stake in T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after acquiring an additional 93,829 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in T. Rowe Price Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after acquiring an additional 44,175 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of T. Rowe Price Group by 6.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after buying an additional 109,653 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TROW shares. UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Finally, Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.