Wealth Enhancement Advisory Services LLC Acquires 2,623 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealth Enhancement Advisory Services LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,590 shares of the asset manager’s stock after acquiring an additional 2,623 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.06% of T. Rowe Price Group worth $15,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Cardinal Capital Management boosted its position in shares of T. Rowe Price Group by 11.6% in the first quarter. Cardinal Capital Management now owns 56,311 shares of the asset manager’s stock valued at $6,865,000 after acquiring an additional 5,852 shares during the period. Janiczek Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 98.8% in the first quarter. Janiczek Wealth Management LLC now owns 2,560 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 1,272 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at $588,000. DGS Capital Management LLC raised its stake in shares of T. Rowe Price Group by 56.9% in the first quarter. DGS Capital Management LLC now owns 3,082 shares of the asset manager’s stock valued at $376,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Benin Management CORP raised its stake in shares of T. Rowe Price Group by 187.5% in the first quarter. Benin Management CORP now owns 7,648 shares of the asset manager’s stock valued at $932,000 after purchasing an additional 4,988 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TROW shares. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Evercore ISI dropped their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Finally, Morgan Stanley increased their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $112.10.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $115.31 on Friday. The firm has a market cap of $25.75 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.97 and a beta of 1.43. The stock’s 50-day moving average is $114.98 and its 200-day moving average is $112.76. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $1.69 earnings per share. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.