Envestnet Asset Management Inc. Has $12.65 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Envestnet Asset Management Inc. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,660 shares of the asset manager's stock after selling 9,350 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of T. Rowe Price Group worth $12,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in shares of T. Rowe Price Group by 15.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager's stock valued at $575,000 after purchasing an additional 669 shares during the period. Natixis Advisors LLC boosted its position in T. Rowe Price Group by 1.8% during the fourth quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager's stock worth $5,397,000 after acquiring an additional 845 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in T. Rowe Price Group by 3.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 93,003 shares of the asset manager's stock worth $10,518,000 after purchasing an additional 3,440 shares during the period. Lee Danner & Bass Inc. purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $104,000. Finally, Virtu Financial LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $614,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. TD Cowen decreased their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Barclays upped their price objective on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an "underweight" rating in a research report on Wednesday. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $96.64.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $0.64 during midday trading on Friday, hitting $105.77. 4,819,403 shares of the stock traded hands, compared to its average volume of 1,580,732. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a market capitalization of $23.30 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The business's 50 day moving average price is $96.63 and its two-hundred day moving average price is $98.82.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The company's revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Profile

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.