Wealth Enhancement Advisory Services LLC Has $7.88 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealth Enhancement Advisory Services LLC reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,740 shares of the asset manager’s stock after selling 10,525 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in T. Rowe Price Group were worth $7,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Smithbridge Asset Management Inc. DE bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $3,404,000. Rockland Trust Co. grew its position in T. Rowe Price Group by 7.0% during the 1st quarter. Rockland Trust Co. now owns 15,392 shares of the asset manager’s stock worth $1,414,000 after acquiring an additional 1,012 shares during the last quarter. Polianta Ltd bought a new stake in T. Rowe Price Group during the 1st quarter worth approximately $1,130,000. Fort Washington Investment Advisors Inc. OH grew its position in T. Rowe Price Group by 7.7% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 303,833 shares of the asset manager’s stock worth $27,913,000 after acquiring an additional 21,759 shares during the last quarter. Finally, Bellecapital International Ltd. grew its position in T. Rowe Price Group by 26.5% during the 1st quarter. Bellecapital International Ltd. now owns 15,246 shares of the asset manager’s stock worth $1,401,000 after acquiring an additional 3,195 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock worth $646,856 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Up 1.2%

Shares of T. Rowe Price Group stock opened at $95.10 on Wednesday. The company has a market capitalization of $20.95 billion, a PE ratio of 10.78, a PEG ratio of 3.05 and a beta of 1.49. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock’s fifty day simple moving average is $92.44 and its 200 day simple moving average is $100.94.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TROW. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI decreased their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley increased their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, Barclays increased their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.09.

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.