Wealth Enhancement Advisory Services LLC Has $7.63 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in T. Rowe Price Group, Inc. by 11.2% in the second quarter, resulting in ownership of 76,174 shares valued at approximately $7.63 million.
• Insider trading activity included Director Robert F. Maclellan selling 3,090 shares at an average price of $105.01, leading to a 6.13% decrease in his ownership of the stock.
• Equities analysts have mixed ratings for T. Rowe Price Group, with one Buy, eight Hold, and four Sell ratings; the average target price is currently $101.55.

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 76,174 shares of the asset manager's stock after selling 9,566 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in T. Rowe Price Group were worth $7,629,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TROW. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth about $27,000. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group in the 1st quarter valued at approximately $39,000. Chilton Capital Management LLC acquired a new position in T. Rowe Price Group in the 1st quarter valued at approximately $41,000. Finally, Ameriflex Group Inc. acquired a new position in T. Rowe Price Group in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TROW shares. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Keefe, Bruyette & Woods boosted their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and an average target price of $101.55.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $104.66 on Wednesday. The firm has a market cap of $22.99 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.51. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock's 50 day simple moving average is $106.23 and its 200 day simple moving average is $97.63.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.26 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

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.

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