Hedeker Wealth LLC Sells 129 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hedeker Wealth LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,550 shares of the asset manager’s stock after selling 129 shares during the period. Hedeker Wealth LLC’s holdings in T. Rowe Price Group were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TROW. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the second quarter worth about $29,000. First United Bank & Trust bought a new stake in T. Rowe Price Group in the fourth quarter worth about $31,000. Versant Capital Management Inc lifted its stake in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.5 %

TROW stock traded up $0.54 during trading on Friday, hitting $108.78. 828,524 shares of the company’s stock traded hands, compared to its average volume of 1,270,033. The firm has a market capitalization of $24.29 billion, a P/E ratio of 12.92, a PEG ratio of 1.64 and a beta of 1.42. The business has a fifty day simple moving average of $113.65 and a two-hundred day simple moving average of $113.89. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the firm posted $2.02 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. TD Cowen reduced their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Evercore ISI reduced their target price 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. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $114.67.

T. Rowe Price Group 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.