Gold prices tick higher on fresh U.S. tariff threats, Fed rate cut hopes
In a recent transaction, Robert F. MacLellan, a director at T. Rowe Price Group Inc. (NASDAQ:TROW), sold 3,955 shares of the company’s common stock. The shares were sold at a price of $91.56 each, amounting to a total transaction value of $362,119. The transaction occurs as the stock trades near its 52-week low of $89.70, with InvestingPro analysis suggesting the stock is currently undervalued.
This sale followed an exercise of stock options, where MacLellan acquired 4,417 shares at a price of $81.1422 per share, totaling $358,405. After these transactions, MacLellan’s direct ownership stands at 42,978.7296 shares.
T. Rowe Price, known for its investment advisory services, is headquartered in Baltimore, Maryland.
In other recent news, T. Rowe Price Group reported fourth-quarter 2024 earnings that did not meet analyst expectations, with adjusted earnings per share at $2.12, falling short of the projected $2.21. Revenue was also below expectations, reaching $1.82 billion compared to the forecasted $1.88 billion. The firm experienced net client outflows of $19.3 billion during the quarter, with assets under management totaling $1.61 trillion as of December 31, 2024. In February 2025, T. Rowe Price disclosed preliminary month-end assets under management of $1.63 trillion, with net outflows of $4.7 billion for the month. The company also announced an increase in its quarterly dividend to $1.27 per share, marking the 39th consecutive year of dividend growth. Keefe, Bruyette & Woods recently raised the price target for T. Rowe Price to $113, citing increased operating expenses and ongoing strategic partnerships as influencing factors. Despite these challenges, the company continues to focus on reducing organic decay and enhancing its market position.
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