Equities analysts expect that T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) will post sales of $1.87 billion for the current quarter, Zacks reports. Three analysts have provided estimates for T. Rowe Price Group’s earnings, with estimates ranging from $1.84 billion to $1.89 billion. T. Rowe Price Group posted sales of $1.83 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that T. Rowe Price Group will report full year sales of $7.57 billion for the current financial year, with estimates ranging from $7.36 billion to $7.71 billion. For the next financial year, analysts forecast that the company will report sales of $7.86 billion, with estimates ranging from $7.52 billion to $8.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last released its earnings results on Thursday, January 27th. The asset manager reported $3.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.10. T. Rowe Price Group had a net margin of 40.18% and a return on equity of 35.83%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $2.89 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year.
TROW has been the subject of a number of research reports. Citigroup dropped their target price on shares of T. Rowe Price Group from $116.50 to $110.00 and set a “sell” rating for the company in a report on Tuesday, April 12th. BMO Capital Markets dropped their target price on shares of T. Rowe Price Group from $240.00 to $198.00 and set an “outperform” rating for the company in a report on Friday, January 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of T. Rowe Price Group from $159.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, April 7th. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $187.00 to $178.00 and set an “equal weight” rating for the company in a report on Friday, April 8th. Finally, StockNews.com began coverage on shares of T. Rowe Price Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $174.42.
In other news, insider Jessica M. Hiebler sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $143.65, for a total transaction of $180,999.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 8,216 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $142.92, for a total transaction of $1,174,230.72. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd purchased a new position in T. Rowe Price Group in the 4th quarter valued at $27,000. Amplius Wealth Advisors LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at $29,000. Bivin & Associates Inc. purchased a new position in T. Rowe Price Group in the 4th quarter valued at $29,000. Independence Bank of Kentucky acquired a new stake in T. Rowe Price Group in the first quarter valued at $29,000. Finally, Neo Ivy Capital Management acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 71.35% of the company’s stock.
T. Rowe Price Group stock opened at $138.96 on Monday. T. Rowe Price Group has a 52-week low of $133.07 and a 52-week high of $224.55. The firm has a market capitalization of $31.66 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 2.03 and a beta of 1.28. The company has a fifty day simple moving average of $144.99 and a 200-day simple moving average of $176.44.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Tuesday, March 15th were issued a $1.20 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Monday, March 14th. This represents a $4.80 annualized dividend and a yield of 3.45%. T. Rowe Price Group’s dividend payout ratio (DPR) is 36.59%.
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.