T. Rowe Price Group, Inc. (NASDAQ:TROW) Short Interest Up 18.6% in June

T. Rowe Price Group, Inc. (NASDAQ:TROW) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 10,260,000 shares, a growth of 18.6% from the May 31st total of 8,650,000 shares. Approximately 4.7% of the company’s stock are sold short. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is presently 8.1 days.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $0.12 during trading on Friday, hitting $115.31. The stock had a trading volume of 1,598,508 shares, compared to its average volume of 1,018,934. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $132.76. The company has a market capitalization of $25.75 billion, a PE ratio of 13.69, a PEG ratio of 1.97 and a beta of 1.43. The firm has a fifty day moving average of $114.98 and a two-hundred day moving average of $112.85.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 EPS. On average, equities analysts expect that T. Rowe Price Group will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.30%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold 6,444 shares of company stock worth $740,408 in the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV grew its position in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares during the period. First United Bank & Trust bought a new position in T. Rowe Price Group during the fourth quarter valued at about $31,000. Park Place Capital Corp boosted its position in T. Rowe Price Group by 1,775.0% during 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. Fortitude Family Office LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $33,000. Finally, CVA Family Office LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $39,000. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Citigroup upped their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus 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.