Wealthfront Advisers LLC Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthfront Advisers LLC raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 109.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,326 shares of the asset manager's stock after acquiring an additional 36,190 shares during the period. Wealthfront Advisers LLC's holdings in T. Rowe Price Group were worth $6,369,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TROW. Avantax Advisory Services Inc. increased its position in shares of T. Rowe Price Group by 15.2% during the 4th 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 last quarter. Natixis Advisors LLC increased its position in shares of T. Rowe Price Group by 1.8% during the 4th quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager's stock valued at $5,397,000 after purchasing an additional 845 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Advisors Asset Management Inc. now owns 71,928 shares of the asset manager's stock valued at $8,134,000 after purchasing an additional 5,110 shares during the last quarter. Horizon Investments LLC increased its position in shares of T. Rowe Price Group by 104.0% during the 4th quarter. Horizon Investments LLC now owns 6,160 shares of the asset manager's stock valued at $697,000 after purchasing an additional 3,141 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $3,273,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $3.36 on Thursday, reaching $106.41. The stock had a trading volume of 2,356,036 shares, compared to its average volume of 1,561,756. The firm has a market capitalization of $23.44 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. The company has a 50-day simple moving average of $96.10 and a 200-day simple moving average of $99.02. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The business 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 firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share. On average, analysts expect 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 was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent research reports. Bank of America reduced 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. Wells Fargo & Company raised their price target on 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. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the stock an "underweight" rating in a research report on Wednesday. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Finally, Evercore ISI reduced 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. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $96.64.

T. Rowe Price Group Company 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.