$1.98 Billion in Sales Expected for T. Rowe Price Group, Inc. (NASDAQ:TROW) This Quarter

Equities research analysts forecast that T. Rowe Price Group, Inc. (NASDAQ:TROW) will post $1.98 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for T. Rowe Price Group’s earnings. The lowest sales estimate is $1.96 billion and the highest is $2.00 billion. T. Rowe Price Group reported sales of $1.60 billion during the same quarter last year, which indicates a positive year over year growth rate of 23.8%. The business is expected to report its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that T. Rowe Price Group will report full year sales of $7.72 billion for the current financial year, with estimates ranging from $7.66 billion to $7.78 billion. For the next year, analysts anticipate that the firm will report sales of $8.19 billion, with estimates ranging from $7.92 billion to $8.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, July 29th. The asset manager reported $3.31 EPS for the quarter, topping the consensus estimate of $3.20 by $0.11. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. T. Rowe Price Group had a net margin of 41.93% and a return on equity of 35.82%.

Several analysts have recently weighed in on TROW shares. Morgan Stanley lifted their target price on T. Rowe Price Group from $208.00 to $211.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Jefferies Financial Group started coverage on T. Rowe Price Group in a research report on Friday, September 10th. They set a “buy” rating and a $245.00 target price for the company. Citigroup lifted their target price on T. Rowe Price Group from $137.00 to $145.00 and gave the stock a “sell” rating in a research report on Monday, July 12th. UBS Group lifted their target price on T. Rowe Price Group from $183.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 8th. Finally, lifted their target price on T. Rowe Price Group from $137.00 to $145.00 and gave the stock a “sell” rating in a research report on Monday, July 12th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.62.

NASDAQ TROW traded down $0.08 on Friday, hitting $215.03. 707,531 shares of the stock were exchanged, compared to its average volume of 1,029,221. The stock has a fifty day moving average price of $212.39 and a two-hundred day moving average price of $194.03. The firm has a market capitalization of $48.80 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.86 and a beta of 1.18. T. Rowe Price Group has a 52-week low of $121.58 and a 52-week high of $224.55.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 15th will be paid a $1.08 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $4.32 annualized dividend and a yield of 2.01%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 45.09%.

In related news, CEO William J. Stromberg sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $211.17, for a total value of $1,689,360.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $207.70, for a total value of $238,855.00. The disclosure for this sale can be found here. Insiders have sold 18,670 shares of company stock worth $3,979,627 in the last 90 days. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Capital Investment Counsel Inc raised its stake in T. Rowe Price Group by 1.5% in the 2nd quarter. Capital Investment Counsel Inc now owns 3,456 shares of the asset manager’s stock valued at $684,000 after purchasing an additional 50 shares during the last quarter. Berman Capital Advisors LLC grew its holdings in T. Rowe Price Group by 7.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 761 shares of the asset manager’s stock valued at $150,000 after buying an additional 54 shares in the last quarter. Childress Capital Advisors LLC grew its holdings in T. Rowe Price Group by 2.7% in the 1st quarter. Childress Capital Advisors LLC now owns 2,097 shares of the asset manager’s stock valued at $359,000 after buying an additional 55 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in T. Rowe Price Group by 2.7% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,198 shares of the asset manager’s stock valued at $385,000 after buying an additional 57 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in T. Rowe Price Group by 2.7% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,235 shares of the asset manager’s stock valued at $442,000 after buying an additional 59 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries, and retirement plan sponsors.

Read More: Mutual funds are not immune from market timing

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Earnings History and Estimates for T. Rowe Price Group (NASDAQ:TROW)

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