T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Lowered by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,243 shares of the asset manager’s stock after selling 6,045 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in T. Rowe Price Group were worth $6,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Atria Investments Inc raised its position in shares of T. Rowe Price Group by 7.0% during the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock worth $665,000 after buying an additional 400 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of T. Rowe Price Group by 6.8% in the 3rd quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager’s stock worth $4,146,000 after purchasing an additional 2,423 shares in the last quarter. Claro Advisors LLC raised its holdings in shares of T. Rowe Price Group by 13.4% in the 3rd quarter. Claro Advisors LLC now owns 7,964 shares of the asset manager’s stock worth $867,000 after purchasing an additional 942 shares in the last quarter. Quest Partners LLC raised its holdings in shares of T. Rowe Price Group by 442,900.0% in the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after purchasing an additional 4,429 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $249,000. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays dropped their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $94.31 on Tuesday. The firm has a market cap of $21.00 billion, a PE ratio of 10.30, a P/E/G ratio of 2.86 and a beta of 1.46. The firm’s 50 day moving average price is $107.87 and its two-hundred day moving average price is $111.57. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 business posted $1.72 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.39%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

About T. Rowe Price Group

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.