Stock Traders Purchase High Volume of T. Rowe Price Group Put Options (TROW)

T. Rowe Price Group Inc (NASDAQ:TROW) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 3,603 put options on the stock. This represents an increase of approximately 3,733% compared to the average volume of 94 put options.

Several equities analysts have recently weighed in on TROW shares. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Jefferies Group reiterated a “buy” rating and set a $104.00 price objective (up previously from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. Citigroup upped their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, October 27th. UBS Group upped their price objective on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the company a “sell” rating in a report on Friday, October 27th. Finally, Barclays upped their price objective on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the company an “underweight” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $98.70.

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at $115.35 on Friday. The company has a market cap of $27,395.57, a PE ratio of 18.91, a PEG ratio of 1.60 and a beta of 1.32. T. Rowe Price Group has a 52-week low of $65.33 and a 52-week high of $115.62.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the consensus estimate of $1.36 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. equities analysts anticipate that T. Rowe Price Group will post 5.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, December 13th. T. Rowe Price Group’s payout ratio is presently 37.38%.

In other news, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total transaction of $839,831.92. Following the transaction, the chief financial officer now owns 100,796 shares in the company, valued at $10,494,879.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth V. Moreland sold 14,419 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the transaction, the chief financial officer now owns 125,264 shares in the company, valued at approximately $12,159,376.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,980 shares of company stock worth $20,776,729. 3.60% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Capital World Investors grew its position in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock worth $780,113,000 after purchasing an additional 7,373,953 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in T. Rowe Price Group by 526.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,774,796 shares of the asset manager’s stock worth $131,707,000 after purchasing an additional 1,491,425 shares in the last quarter. Bahl & Gaynor Inc. grew its position in T. Rowe Price Group by 65.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,225,132 shares of the asset manager’s stock worth $92,203,000 after purchasing an additional 484,994 shares in the last quarter. Prudential Financial Inc. grew its position in T. Rowe Price Group by 94.1% in the 3rd quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after purchasing an additional 343,926 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in T. Rowe Price Group in the 3rd quarter worth about $28,685,000. 72.38% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Stock Traders Purchase High Volume of T. Rowe Price Group Put Options (TROW)” was posted by Week Herald and is owned by of Week Herald. If you are reading this news story on another site, it was stolen and reposted in violation of US and international copyright and trademark laws. The original version of this news story can be viewed at https://weekherald.com/2018/01/14/stock-traders-purchase-high-volume-of-t-rowe-price-group-put-options-trow.html.

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.

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply