T. Rowe Price Group, Inc. (NASDAQ:TROW) Insider Sells $863,429.58 in Stock

T. Rowe Price Group, Inc. (NASDAQ:TROW) insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the transaction, the insider now owns 82,299 shares in the company, valued at approximately $6,836,577.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 82.30 on Friday. The stock has a market cap of $19.78 billion, a PE ratio of 14.13 and a beta of 1.24. The firm’s 50-day moving average is $80.75 and its 200 day moving average is $73.28. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post $5.66 EPS for the current year.

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TROW has been the topic of a number of recent research reports. Deutsche Bank AG reiterated a “hold” rating and set a $71.00 price target (down previously from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Citigroup Inc. boosted their target price on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Credit Suisse Group boosted their target price on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Morgan Stanley restated an “underweight” rating and issued a $71.00 target price (up previously from $70.00) on shares of T. Rowe Price Group in a report on Tuesday, July 18th. Finally, BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $77.90.

Institutional investors have recently made changes to their positions in the stock. CENTRAL TRUST Co boosted its position in shares of T. Rowe Price Group by 5.4% in the first quarter. CENTRAL TRUST Co now owns 12,521 shares of the asset manager’s stock valued at $854,000 after buying an additional 647 shares during the last quarter. Watch Point Trust Co boosted its position in shares of T. Rowe Price Group by 0.4% in the first quarter. Watch Point Trust Co now owns 26,821 shares of the asset manager’s stock valued at $1,828,000 after buying an additional 100 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of T. Rowe Price Group by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 218,892 shares of the asset manager’s stock valued at $14,918,000 after buying an additional 7,080 shares during the last quarter. Moreno Evelyn V boosted its position in shares of T. Rowe Price Group by 12.0% in the first quarter. Moreno Evelyn V now owns 89,305 shares of the asset manager’s stock valued at $6,087,000 after buying an additional 9,545 shares during the last quarter. Finally, Rosenbaum Jay D. boosted its position in shares of T. Rowe Price Group by 6.3% in the first quarter. Rosenbaum Jay D. now owns 8,495 shares of the asset manager’s stock valued at $579,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

T. Rowe Price Group Company Profile

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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