Wealth Enhancement Advisory Services LLC Sells 10,525 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealth Enhancement Advisory Services LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,740 shares of the asset manager's stock after selling 10,525 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in T. Rowe Price Group were worth $7,877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after purchasing an additional 93 shares during the period. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth $27,000. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $42,000. Summit Securities Group LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $57,000. Finally, CX Institutional acquired a new stake in T. Rowe Price Group during the 1st quarter worth $57,000. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. TD Cowen dropped their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company cut their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $94.09.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 have sold a total of 6,923 shares of company stock worth $646,856 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $0.15 during mid-day trading on Wednesday, reaching $94.95. The company's stock had a trading volume of 1,074,879 shares, compared to its average volume of 1,516,196. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The business's 50 day simple moving average is $92.44 and its 200 day simple moving average is $100.94. The company has a market capitalization of $20.92 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 3.05 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The company 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%. T. Rowe Price Group's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

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.