Wealth Enhancement Advisory Services LLC Sells 34,508 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 26.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,082 shares of the asset manager's stock after selling 34,508 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in T. Rowe Price Group were worth $11,079,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of T. Rowe Price Group by 15.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager's stock valued at $37,141,000 after purchasing an additional 47,043 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in T. Rowe Price Group in the first quarter worth about $1,008,000. Nebula Research & Development LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth about $807,000. Fisher Asset Management LLC lifted its position in T. Rowe Price Group by 6.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager's stock valued at $188,609,000 after purchasing an additional 109,053 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager's stock valued at $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TROW shares. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 30th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $114.56.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business's stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company's stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm's stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW traded up $0.50 during trading hours on Wednesday, reaching $105.93. 802,188 shares of the stock were exchanged, compared to its average volume of 1,299,689. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The stock has a market cap of $23.58 billion, a PE ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.42. The firm has a 50 day moving average of $114.16 and a 200 day moving average of $113.99.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio is currently 58.91%.

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.