Hedeker Wealth LLC Reduces Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hedeker Wealth LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,319 shares of the asset manager’s stock after selling 2,637 shares during the quarter. T. Rowe Price Group comprises approximately 1.5% of Hedeker Wealth LLC’s portfolio, making the stock its 28th biggest position. Hedeker Wealth LLC’s holdings in T. Rowe Price Group were worth $4,886,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd purchased a new position in T. Rowe Price Group during the fourth quarter valued at $27,000. Amplius Wealth Advisors LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at $29,000. Bivin & Associates Inc. bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at $29,000. Sandy Cove Advisors LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at $32,000. Finally, Baystate Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 686.4% during the fourth quarter. Baystate Wealth Management LLC now owns 173 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 151 shares in the last quarter. 71.80% of the stock is owned by institutional investors.

TROW has been the subject of several analyst reports. StockNews.com initiated coverage on T. Rowe Price Group in a report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets downgraded T. Rowe Price Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $160.00 to $135.00 in a report on Monday, June 13th. Jefferies Financial Group restated a “hold” rating and set a $156.00 price target on shares of T. Rowe Price Group in a report on Monday, April 11th. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $142.00 to $126.00 in a report on Thursday, May 19th. Finally, Morgan Stanley reduced their price objective on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $162.00.

Shares of TROW stock traded up $2.07 during trading hours on Thursday, reaching $113.40. 13,398 shares of the company traded hands, compared to its average volume of 1,539,361. The firm has a 50-day moving average price of $124.34 and a 200 day moving average price of $149.35. T. Rowe Price Group, Inc. has a 12-month low of $104.72 and a 12-month high of $224.55. The company has a market cap of $25.78 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.78 and a beta of 1.34.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The asset manager reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.14). T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm posted $3.01 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Wednesday, June 15th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, June 14th. T. Rowe Price Group’s payout ratio is 38.83%.

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 730 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the sale, the insider now owns 13,089 shares of the company’s stock, valued at approximately $1,636,125. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

T. Rowe Price Group Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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