Traders Buy High Volume of T. Rowe Price Group Put Options (TROW)
T. Rowe Price Group, Inc. (NASDAQ:TROW) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 2,105 put options on the stock. This represents an increase of approximately 879% compared to the average volume of 215 put options.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, September 26th. Jefferies Group restated a “buy” rating and issued a $96.00 target price on shares of T. Rowe Price Group in a report on Sunday, August 20th. Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a report on Friday, September 8th. They issued an “underweight” rating and a $79.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $89.50.
In other news, Director Anne M. Whittemore sold 4,163 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $90.64, for a total value of $377,334.32. Following the transaction, the director now owns 29,070 shares in the company, valued at $2,634,904.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth V. Moreland sold 13,041 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the completion of the transaction, the chief financial officer now owns 135,028 shares in the company, valued at approximately $12,210,582.04. The disclosure for this sale can be found here. Insiders sold 81,705 shares of company stock worth $7,861,938 in the last 90 days. Company insiders own 3.60% of the company’s stock.
Shares of T. Rowe Price Group (NASDAQ:TROW) opened at $102.79 on Friday. The firm has a market cap of $24,910.00, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.83 and a beta of 1.28. T. Rowe Price Group has a fifty-two week low of $65.33 and a fifty-two week high of $103.85.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. equities analysts expect that T. Rowe Price Group will post 5.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.22%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 37.32%.
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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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