Analysts Anticipate T. Rowe Price Group, Inc. (NASDAQ:TROW) Will Post Earnings of $2.87 Per Share

Equities research analysts forecast that T. Rowe Price Group, Inc. (NASDAQ:TROW) will post earnings per share (EPS) of $2.87 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for T. Rowe Price Group’s earnings, with estimates ranging from $2.74 to $2.93. T. Rowe Price Group posted earnings per share of $1.87 in the same quarter last year, which would suggest a positive year over year growth rate of 53.5%. The company is expected to report its next earnings results on Tuesday, April 27th.

According to Zacks, analysts expect that T. Rowe Price Group will report full year earnings of $11.93 per share for the current fiscal year, with EPS estimates ranging from $11.50 to $12.61. For the next year, analysts anticipate that the business will post earnings of $12.51 per share, with EPS estimates ranging from $12.10 to $13.44. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, January 28th. The asset manager reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.21. T. Rowe Price Group had a return on equity of 30.52% and a net margin of 35.92%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The business’s revenue was up 18.0% compared to the same quarter last year.

Several research firms have recently weighed in on TROW. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $145.00 to $150.00 in a research report on Wednesday, November 11th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $170.00 to $200.00 in a research report on Thursday, January 14th. The Goldman Sachs Group upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their price target for the stock from $134.00 to $170.00 in a research report on Tuesday, January 5th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research report on Friday, December 4th. Finally, Credit Suisse Group raised their price target on T. Rowe Price Group from $171.00 to $179.00 and gave the stock an “outperform” rating in a research report on Friday, January 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $151.33.

In other news, VP Christopher D. Alderson sold 8,100 shares of the firm’s stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $149.64, for a total transaction of $1,212,084.00. Following the transaction, the vice president now owns 336,256 shares in the company, valued at $50,317,347.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher D. Alderson sold 2,043 shares of the firm’s stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $149.07, for a total value of $304,550.01. Following the transaction, the vice president now owns 332,256 shares in the company, valued at approximately $49,529,401.92. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Montag A & Associates Inc. purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $25,000. Ellevest Inc. grew its stake in T. Rowe Price Group by 435.0% in the fourth quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Peconic Partners LLC purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $35,000. Charter Oak Capital Management LLC purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $39,000. Finally, Advisory Alpha LLC purchased a new position in T. Rowe Price Group in the third quarter valued at about $38,000. Institutional investors own 69.48% of the company’s stock.

TROW stock traded down $1.44 during midday trading on Tuesday, reaching $160.53. 29,167 shares of the company traded hands, compared to its average volume of 1,162,275. The firm has a market capitalization of $36.59 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 1.19 and a beta of 1.15. T. Rowe Price Group has a 52-week low of $82.51 and a 52-week high of $169.00. The business has a 50 day moving average of $158.44 and a 200-day moving average of $144.13.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.69%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.90. The ex-dividend date is Monday, March 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 44.61%.

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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