Investors Purchase High Volume of Put Options on T. Rowe Price Group (TROW)
T. Rowe Price Group Inc (NASDAQ:TROW) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 1,628 put options on the stock. This represents an increase of 556% compared to the typical volume of 248 put options.
In other T. Rowe Price Group news, CEO William J. Stromberg sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the completion of the sale, the chief executive officer now directly owns 534,077 shares in the company, valued at $51,853,535.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the sale, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock valued at $20,776,729 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at $118,000. Grove Bank & Trust increased its holdings in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 840 shares during the period. Tower Research Capital LLC TRC increased its holdings in T. Rowe Price Group by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after purchasing an additional 491 shares during the period. Calton & Associates Inc. acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $224,000. Finally, Stock Yards Bank & Trust Co. acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $205,000. Institutional investors and hedge funds own 71.89% of the company’s stock.
Shares of T. Rowe Price Group (NASDAQ:TROW) traded up $2.59 during trading hours on Wednesday, hitting $108.32. 1,275,390 shares of the stock traded hands, compared to its average volume of 1,896,045. The firm has a market capitalization of $25,425.59, a P/E ratio of 18.14, a PEG ratio of 1.23 and a beta of 1.28. T. Rowe Price Group has a 52 week low of $66.70 and a 52 week high of $120.07.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. research analysts predict that T. Rowe Price Group will post 7.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.58%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 38.19%.
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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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