Wealthcare Capital Partners LLC Has $866,000 Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthcare Capital Partners LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,429 shares of the asset manager’s stock after buying an additional 115 shares during the period. Wealthcare Capital Partners LLC’s holdings in T. Rowe Price Group were worth $866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after purchasing an additional 346,369 shares during the period. Fayez Sarofim & Co grew its stake in shares of T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after purchasing an additional 425,142 shares during the period. Geode Capital Management LLC grew its stake in shares of T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after purchasing an additional 116,231 shares during the period. Finally, Provident Trust Co. grew its stake in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after purchasing an additional 213,566 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TROW. Barclays lifted their price objective on 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. Evercore ISI decreased their target price on 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. Morgan Stanley boosted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on 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. Finally, Wells Fargo & Company decreased their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $94.28 on Friday. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The stock’s 50-day moving average is $90.71 and its 200-day moving average is $103.39. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

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, beating analysts’ consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 earnings per share. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.39%. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

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.