Wall Street analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to post earnings per share (EPS) of $1.99 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for T. Rowe Price Group’s earnings. The lowest EPS estimate is $1.90 and the highest is $2.09. T. Rowe Price Group also reported earnings of $1.99 per share in the same quarter last year. The firm is expected to report its next earnings report on Thursday, October 24th.
On average, analysts expect that T. Rowe Price Group will report full-year earnings of $7.77 per share for the current year, with EPS estimates ranging from $7.58 to $8.00. For the next financial year, analysts anticipate that the business will report earnings of $8.14 per share, with EPS estimates ranging from $7.12 to $8.65. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.15. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm posted $1.87 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis.
TROW has been the topic of several analyst reports. BidaskClub raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Deutsche Bank reduced their target price on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Morgan Stanley increased their target price on T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Citigroup increased their target price on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Finally, UBS Group increased their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $109.75.
NASDAQ TROW traded up $0.82 on Friday, reaching $118.94. The stock had a trading volume of 847,237 shares, compared to its average volume of 838,849. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.91 and a quick ratio of 3.91. The firm has a fifty day moving average of $110.63 and a two-hundred day moving average of $106.18. T. Rowe Price Group has a 1-year low of $84.59 and a 1-year high of $120.99. The company has a market cap of $27.82 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, September 12th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 42.52%.
In related news, VP Sebastien Page sold 4,418 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $107.05, for a total transaction of $472,946.90. Following the completion of the sale, the vice president now directly owns 51,302 shares in the company, valued at approximately $5,491,879.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher D. Alderson sold 36,898 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $114.41, for a total value of $4,221,500.18. Following the sale, the vice president now owns 414,144 shares of the company’s stock, valued at $47,382,215.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,709 shares of company stock worth $6,927,939. 3.10% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in TROW. Adirondack Trust Co. raised its stake in T. Rowe Price Group by 606.1% in the first quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in T. Rowe Price Group by 66.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Advisory Alpha LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth approximately $27,000. AdvisorNet Financial Inc lifted its holdings in T. Rowe Price Group by 121.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 161 shares in the last quarter. Finally, Trustcore Financial Services LLC lifted its holdings in T. Rowe Price Group by 353.8% during the 1st quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock worth $30,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 68.68% 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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