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

Wealth Enhancement Advisory Services LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 70,125 shares of the asset manager’s stock after selling 6,049 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in T. Rowe Price Group were worth $7,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TROW. TD Waterhouse Canada Inc. lifted its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC increased its position in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of T. Rowe Price Group in the second quarter valued at $35,000. Finally, Quent Capital LLC bought a new position in T. Rowe Price Group in the third quarter worth $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 20th. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $115.00 to $116.00 in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Keefe, Bruyette & Woods reduced their price objective on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 16th. Finally, Jefferies Financial Group upped their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $107.31.

T. Rowe Price Group Trading Down 1.4%

NASDAQ TROW opened at $105.63 on Friday. The firm’s 50 day simple moving average is $103.93 and its 200 day simple moving average is $104.55. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 2.56 and a beta of 1.52. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is currently 55.34%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.