Microvast Holdings announces departure of chief financial officer
Arif Husain, a Vice President at Price T Rowe Group Inc. (NASDAQ:TROW), recently executed several stock transactions, according to a recent SEC filing. On February 11, Husain sold a total of 4,112 shares of common stock at a price of $109.27 per share, amounting to approximately $449,318. The transaction occurred as TROW, currently valued at $23.86 billion, trades at a P/E ratio of 11.92, notably low relative to its near-term earnings growth potential according to InvestingPro analysis.
In addition to the sales, Husain also exercised stock options to acquire 4,112 shares. These options were exercised at prices ranging from $69.8374 to $79.7136, with a total acquisition value of $307,723. Following these transactions, Husain holds 36,800.4602 shares directly. The company, which has maintained dividend payments for 40 consecutive years, currently trades below its Fair Value based on InvestingPro’s comprehensive analysis, which includes over 30 key financial metrics and additional valuable insights available in the Pro Research Report.
In other recent news, T. Rowe Price Group declared a quarterly dividend of $1.27 per share, marking a 2.42% increase and continuing its 39-year streak of annual dividend growth. In financial developments, the company’s Q4 2024 earnings fell short of analyst expectations, with adjusted earnings per share of $2.12 and revenue of $1.82 billion, both below the consensus estimates.
Meanwhile, Keefe, Bruyette & Woods adjusted its price target for T. Rowe Price, raising it to $113 from $111, despite the firm’s recent miss in capital allocation-based income and higher-than-expected operating costs. The analyst firm noted T. Rowe Price’s progress in reducing its organic decay, with outflows in 2024 amounting to approximately $43.2 billion, a significant reduction from the previous year.
Other noteworthy developments include T. Rowe Price’s strategic partnerships with Aspida and potentially Ares, seen as a positive step in the current trends of the asset management industry. These recent developments provide insights into T. Rowe Price’s strategies and financial performance.
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