T. Rowe Price group principal accounting officer sells $126,965 in stock

Jessica M. Hiebler, Principal Accounting Officer at T. Rowe Price Group Inc. (NASDAQ:TROW), a $24 billion investment management firm currently trading at an attractive P/E ratio of 11.7, recently executed a series of transactions involving the company’s common stock, according to a recent SEC filing. InvestingPro analysis indicates the stock is currently undervalued. On February 14, Hiebler sold 1,177 shares at an average price of $107.87 per share, amounting to a total sale of approximately $126,965.

On the same day, Hiebler also exercised stock options to acquire 1,177 shares at a price of $79.71 per share, totaling $93,823. Additionally, 84.48 shares were acquired under the company’s Employee Stock Purchase Plan at a weighted-average price of $115.61, amounting to $9,767.

These transactions leave Hiebler with a total of 14,440.52 shares in T. Rowe Price Group following the sales and acquisitions. For deeper insights into insider trading patterns and comprehensive financial analysis, including 8 additional ProTips, explore InvestingPro’s detailed research report.

In other recent news, T. Rowe Price Group has announced a quarterly dividend of $1.27 per share, marking a 2.42% increase and the 39th consecutive year of dividend growth for the company. The global asset management firm now oversees $1.61 trillion in assets under management, with approximately two-thirds of these assets being retirement-related.

On the other hand, the company’s fourth quarter 2024 results missed analyst expectations, with adjusted earnings per share of $2.12 and revenue of $1.82 billion, both falling short of projections. T. Rowe Price also reported net client outflows of $19.3 billion for the quarter.

In response to these developments, Keefe, Bruyette & Woods adjusted its price target on T. Rowe Price stock, increasing it to $113 from $111, while maintaining a Market Perform rating. The firm cited increased operating expenses and higher-than-expected compensation costs as key factors influencing their forward estimates.

In an effort to navigate the dynamic financial landscape, T. Rowe Price has made strategic partnerships with Aspida and Ares, moves that analysts find noteworthy within the context of current trends in the asset management industry. These are some of the recent developments surrounding T. Rowe Price.

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