T. Rowe Price Group Inc (NASDAQ:TROW) – Analysts at Jefferies Financial Group upped their Q1 2020 EPS estimates for T. Rowe Price Group in a research note issued on Tuesday, January 7th. Jefferies Financial Group analyst D. Fannon now anticipates that the asset manager will post earnings per share of $2.03 for the quarter, up from their prior forecast of $1.91. Jefferies Financial Group also issued estimates for T. Rowe Price Group’s Q2 2020 earnings at $2.19 EPS, Q3 2020 earnings at $2.25 EPS, Q4 2020 earnings at $2.23 EPS and FY2020 earnings at $8.71 EPS.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 24th. The asset manager reported $2.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.15. T. Rowe Price Group had a return on equity of 28.84% and a net margin of 35.28%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $1.99 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis.
Several other research firms also recently weighed in on TROW. Wells Fargo & Co raised T. Rowe Price Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $114.00 to $145.00 in a report on Thursday, January 2nd. BMO Capital Markets started coverage on T. Rowe Price Group in a report on Monday, October 7th. They issued a “market perform” rating and a $101.00 target price for the company. BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Morgan Stanley boosted their target price on T. Rowe Price Group from $122.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Deutsche Bank upped their price objective on T. Rowe Price Group from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $117.17.
T. Rowe Price Group stock opened at $127.46 on Friday. T. Rowe Price Group has a fifty-two week low of $86.61 and a fifty-two week high of $128.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market capitalization of $29.98 billion, a P/E ratio of 17.83, a PEG ratio of 1.70 and a beta of 1.05. The stock has a 50-day simple moving average of $123.33 and a 200-day simple moving average of $115.05.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.39%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.
In other news, VP W. Sharps Robert sold 12,400 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $123.70, for a total transaction of $1,533,880.00. Following the completion of the transaction, the vice president now directly owns 446,726 shares of the company’s stock, valued at approximately $55,260,006.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher D. Alderson sold 3,502 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $122.54, for a total value of $429,135.08. Following the transaction, the vice president now directly owns 400,505 shares of the company’s stock, valued at $49,077,882.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,702 shares of company stock valued at $2,061,719. 3.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of TROW. North Star Investment Management Corp. purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $27,000. Mechanics Bank Trust Department purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $31,000. Thor Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $34,000. Quantum Capital Management purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $41,000. Finally, Usca Ria LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $45,000. 70.36% of the stock is owned by institutional investors and hedge funds.
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.