Hedeker Wealth LLC Buys 108 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hedeker Wealth LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,679 shares of the asset manager’s stock after purchasing an additional 108 shares during the quarter. Hedeker Wealth LLC’s holdings in T. Rowe Price Group were worth $1,424,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV boosted its position in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $31,000. Park Place Capital Corp boosted its position in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $33,000. Finally, CVA Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $39,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $0.31 during trading hours on Wednesday, reaching $114.91. 21,898 shares of the company were exchanged, compared to its average volume of 1,327,839. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The stock’s fifty day moving average is $115.03 and its two-hundred day moving average is $112.96. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.97 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $1.69 earnings per share. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $740,408 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $112.10.

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.