T. Rowe Price Group (TROW) Scheduled to Post Earnings on Friday

T. Rowe Price Group (NASDAQ:TROW) will be announcing its earnings results before the market opens on Friday, April 26th. Analysts expect T. Rowe Price Group to post earnings of $1.96 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 earnings per share. On average, analysts expect T. Rowe Price Group to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $108.72 on Friday. T. Rowe Price Group has a 52-week low of $87.43 and a 52-week high of $132.76. The stock has a market cap of $24.31 billion, a PE ratio of 14.01, a P/E/G ratio of 2.16 and a beta of 1.40. The firm has a 50-day moving average of $114.67 and a 200-day moving average of $106.71.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.56%. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TROW. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday. Morgan Stanley increased their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday. UBS Group lifted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Citigroup lifted their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $112.67.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of T. Rowe Price Group by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 293,126 shares of the asset manager’s stock valued at $31,567,000 after purchasing an additional 5,494 shares during the last quarter. Burford Brothers Inc. bought a new position in T. Rowe Price Group during the fourth quarter valued at about $313,000. GSA Capital Partners LLP bought a new position in T. Rowe Price Group during the fourth quarter valued at about $1,059,000. Public Employees Retirement System of Ohio grew its position in T. Rowe Price Group by 18.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 148,511 shares of the asset manager’s stock valued at $15,993,000 after buying an additional 22,826 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in T. Rowe Price Group by 14.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,747 shares of the asset manager’s stock valued at $1,050,000 after buying an additional 1,222 shares during the period. 73.39% of the stock is owned by institutional investors.

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.