Hedeker Wealth LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hedeker Wealth LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,679 shares of the asset manager’s stock after purchasing an additional 108 shares during the period. Hedeker Wealth LLC’s holdings in T. Rowe Price Group were worth $1,424,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TROW. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after buying an additional 86 shares during the period. ST Germain D J Co. Inc. grew its position in T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after buying an additional 88 shares during the period. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.6% during the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares during the period. Clear Harbor Asset Management LLC grew its position in T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after buying an additional 100 shares during the period. Finally, Caprock Group LLC grew its position in T. Rowe Price Group by 4.7% during the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after buying an additional 101 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.3 %

Shares of TROW stock traded up $0.31 during mid-day trading on Wednesday, reaching $114.91. The company’s stock had a trading volume of 21,898 shares, compared to its average volume of 1,327,839. The company’s 50 day simple moving average is $115.03 and its 200-day simple moving average is $112.96. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The firm has a market capitalization of $25.66 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.97 and a beta of 1.42.

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

T. Rowe Price Group Dividend Announcement

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

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction 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 approximately $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated 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 approximately $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. In the last three months, insiders sold 6,444 shares of company stock valued at $740,408. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TROW. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target 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. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Citigroup increased 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. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average 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.