Equities analysts forecast that T. Rowe Price Group, Inc. (NASDAQ:TROW) will post earnings per share (EPS) of $3.05 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for T. Rowe Price Group’s earnings. The lowest EPS estimate is $2.90 and the highest is $3.18. T. Rowe Price Group reported earnings per share of $2.29 in the same quarter last year, which suggests a positive year-over-year growth rate of 33.2%. The company is expected to issue its next earnings results on Wednesday, August 4th.
On average, analysts expect that T. Rowe Price Group will report full-year earnings of $12.27 per share for the current financial year, with EPS estimates ranging from $11.81 to $12.76. For the next year, analysts anticipate that the firm will post earnings of $12.81 per share, with EPS estimates ranging from $12.28 to $13.98. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 29th. The asset manager reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.09. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $1.87 EPS. T. Rowe Price Group’s revenue for the quarter was up 24.9% on a year-over-year basis.
A number of equities analysts have recently issued reports on TROW shares. Barclays upped their target price on shares of T. Rowe Price Group from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Monday, January 25th. Credit Suisse Group downgraded shares of T. Rowe Price Group from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $179.00 to $181.00 in a research report on Tuesday, March 30th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “sell” rating and set a $157.00 target price on shares of T. Rowe Price Group in a report on Tuesday, April 20th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $191.00 target price for the company. in a report on Saturday. Finally, The Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and increased their price target for the company from $134.00 to $170.00 in a research note on Tuesday, January 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $166.36.
In other news, President W. Sharps Robert sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $176.75, for a total transaction of $1,060,500.00. Following the completion of the sale, the president now owns 472,138 shares in the company, valued at approximately $83,450,391.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William J. Stromberg sold 9,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $173.78, for a total transaction of $1,564,020.00. Company insiders own 1.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in T. Rowe Price Group during the first quarter worth about $27,000. Montag A & Associates Inc. bought a new position in T. Rowe Price Group during the fourth quarter worth about $25,000. Ellevest Inc. increased its position in T. Rowe Price Group by 435.0% during the fourth quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock worth $32,000 after acquiring an additional 174 shares during the period. Bogart Wealth LLC increased its position in T. Rowe Price Group by 260.0% during the first quarter. Bogart Wealth LLC now owns 216 shares of the asset manager’s stock worth $37,000 after acquiring an additional 156 shares during the period. Finally, Peconic Partners LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $35,000. 69.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:TROW traded down $0.83 during midday trading on Tuesday, reaching $181.86. 1,209,833 shares of the company’s stock were exchanged, compared to its average volume of 1,176,585. T. Rowe Price Group has a 12 month low of $105.56 and a 12 month high of $183.92. The firm has a market capitalization of $41.26 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The company’s 50 day simple moving average is $176.13 and its two-hundred day simple moving average is $158.22.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Monday, March 15th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.90. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 53.53%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.