Envestnet Portfolio Solutions Inc. Has $5.46 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Envestnet Portfolio Solutions Inc. decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,481 shares of the asset manager’s stock after selling 1,762 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in T. Rowe Price Group were worth $5,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $27,000. Advantage Trust Co grew its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the period. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $42,000. Finally, Summit Securities Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $93.21 on Friday. The company’s 50-day moving average price is $92.20 and its two-hundred day moving average price is $101.51. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $20.54 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.99 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $2.38 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.45%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research analyst reports. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. Barclays upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Citigroup reduced their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.09.

Insiders Place Their Bets

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now directly owns 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,923 shares of company stock valued at $646,856 in the last three months. 2.00% of the stock is currently owned by corporate 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.