Envestnet Asset Management Inc. Buys 11,409 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Envestnet Asset Management Inc. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 147,010 shares of the asset manager's stock after purchasing an additional 11,409 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of T. Rowe Price Group worth $16,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Glenview Trust co increased its stake in shares of T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after buying an additional 92 shares in the last quarter. MCF Advisors LLC increased its position in T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock valued at $704,000 after acquiring an additional 93 shares in the last quarter. Addison Advisors LLC raised its stake in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock worth $56,000 after purchasing an additional 98 shares in the last quarter. Finally, Advantage Trust Co grew its stake in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of TROW traded up $0.74 during midday trading on Friday, hitting $86.11. The stock had a trading volume of 4,903,880 shares, compared to its average volume of 1,453,090. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The company has a 50 day simple moving average of $95.65 and a two-hundred day simple moving average of $108.41. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the company earned $1.72 earnings per share. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.90%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. Bank of America lowered 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. 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 on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $96.00.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company's stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company 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.