Envestnet Portfolio Solutions Inc. raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,047 shares of the asset manager’s stock after buying an additional 10,077 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in T. Rowe Price Group were worth $19,787,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Wealthcare Capital Partners LLC grew its position in shares of T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after acquiring an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares during the last quarter. Concorde Asset Management LLC lifted its stake in T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after purchasing an additional 102 shares during the last quarter. Finally, MTM Investment Management LLC boosted its holdings in T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after purchasing an additional 107 shares during the period. Institutional investors own 73.39% of the company’s stock.
T. Rowe Price Group Price Performance
Shares of TROW opened at $111.42 on Thursday. The company has a market cap of $23.77 billion, a P/E ratio of 11.18, a PEG ratio of 4.43 and a beta of 1.47. The stock has a fifty day moving average price of $113.35 and a 200 day moving average price of $102.56. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.
T. Rowe Price Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on TROW shares. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a research note on Wednesday, July 29th. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, TD Cowen increased their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $105.67.
Get Our Latest Stock Report on T. Rowe Price Group
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.
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