$1.90 EPS Expected for T. Rowe Price Group Inc (TROW) This Quarter

Equities analysts forecast that T. Rowe Price Group Inc (NASDAQ:TROW) will announce earnings of $1.90 per share for the current quarter, Zacks reports. Four analysts have provided estimates for T. Rowe Price Group’s earnings. The highest EPS estimate is $1.98 and the lowest is $1.82. T. Rowe Price Group posted earnings of $1.52 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The company is scheduled to report its next earnings report on Tuesday, January 29th.

According to Zacks, analysts expect that T. Rowe Price Group will report full-year earnings of $7.67 per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of $7.55 per share, with EPS estimates ranging from $7.04 to $7.80. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $1.56 EPS.

Several analysts have recently weighed in on the company. Deutsche Bank reduced their target price on T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 16th. BidaskClub downgraded T. Rowe Price Group from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. UBS Group reduced their target price on T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Morgan Stanley boosted their target price on T. Rowe Price Group from $116.00 to $118.00 and gave the company a “hold” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and an average target price of $108.00.

Shares of T. Rowe Price Group stock traded down $1.30 on Friday, hitting $92.72. The stock had a trading volume of 7,876 shares, compared to its average volume of 1,511,724. T. Rowe Price Group has a 52-week low of $90.78 and a 52-week high of $127.43. The company has a market capitalization of $22.15 billion, a P/E ratio of 17.03, a PEG ratio of 1.14 and a beta of 1.21.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 51.57%.

In related news, VP Christopher D. Alderson sold 5,681 shares of the business’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $92.22, for a total value of $523,901.82. Following the transaction, the vice president now owns 118,818 shares in the company, valued at approximately $10,957,395.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after acquiring an additional 457,683 shares during the period. BlackRock Inc. raised its position in shares of T. Rowe Price Group by 0.6% in the 3rd quarter. BlackRock Inc. now owns 17,444,147 shares of the asset manager’s stock worth $1,904,553,000 after buying an additional 97,337 shares during the period. Bank of America Corp DE raised its position in shares of T. Rowe Price Group by 10.2% in the 2nd quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock worth $295,485,000 after buying an additional 236,487 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its position in shares of T. Rowe Price Group by 9.6% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,297,776 shares of the asset manager’s stock worth $250,871,000 after buying an additional 201,553 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of T. Rowe Price Group by 25.0% in the 3rd quarter. Janus Henderson Group PLC now owns 2,247,254 shares of the asset manager’s stock worth $245,355,000 after buying an additional 449,322 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

About T. Rowe Price Group

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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