IBM Retirement Fund Sells 19,994 Shares of T. Rowe Price Group, Inc. (TROW)

IBM Retirement Fund cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 88.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,700 shares of the asset manager’s stock after selling 19,994 shares during the period. IBM Retirement Fund’s holdings in T. Rowe Price Group were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Twin Focus Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 15.3% in the fourth quarter. Twin Focus Capital Partners LLC now owns 15,100 shares of the asset manager’s stock worth $1,136,000 after buying an additional 2,000 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of T. Rowe Price Group by 6.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,750 shares of the asset manager’s stock worth $460,000 after buying an additional 400 shares in the last quarter. Rothschild Investment Corp IL boosted its position in shares of T. Rowe Price Group by 42.0% in the first quarter. Rothschild Investment Corp IL now owns 5,750 shares of the asset manager’s stock worth $392,000 after buying an additional 1,700 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $3,269,000. Finally, British Columbia Investment Management Corp boosted its position in shares of T. Rowe Price Group by 47.4% in the first quarter. British Columbia Investment Management Corp now owns 256,180 shares of the asset manager’s stock worth $17,459,000 after buying an additional 82,409 shares in the last quarter. 71.24% of the stock is currently owned by hedge funds and other institutional investors.

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

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 73.35 on Friday. The company’s 50 day moving average is $71.43 and its 200-day moving average is $71.85. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $78.95. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 14.37 and a beta of 1.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.02. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. T. Rowe Price Group had a return on equity of 24.24% and a net margin of 29.59%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post $5.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, June 13th. T. Rowe Price Group’s payout ratio is presently 44.88%.

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Several equities research analysts have commented on the stock. Morgan Stanley restated an “underweight” rating and issued a $67.00 price target (up previously from $64.00) on shares of T. Rowe Price Group in a research note on Friday, March 17th. Deutsche Bank AG restated a “hold” rating and issued a $71.00 price target (down previously from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. Jefferies Group LLC restated a “buy” rating and issued a $83.00 price target (down previously from $84.00) on shares of T. Rowe Price Group in a research note on Monday, April 17th. TheStreet lowered shares of T. Rowe Price Group from a “b” rating to a “c+” rating in a research note on Tuesday, March 28th. Finally, BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $73.18.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW).

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