Thoma Capital Management LLC Invests $684,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Thoma Capital Management LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,049 shares of the asset manager's stock, valued at approximately $684,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC increased its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth $27,000. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, Advantage Trust Co lifted its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.3%

Shares of NASDAQ:TROW traded up $0.31 during midday trading on Thursday, hitting $94.31. The stock had a trading volume of 1,125,252 shares, compared to its average volume of 1,493,374. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The business's 50-day simple moving average is $90.70 and its 200-day simple moving average is $104.53. The company has a market cap of $20.78 billion, a P/E ratio of 10.30, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate 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 revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's payout ratio is presently 57.60%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TROW. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of "Hold" and a consensus target price of $94.09.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm'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 transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.