T. Rowe Price Group, Inc. (NASDAQ:TROW) Expected to Post Earnings of $2.70 Per Share

Brokerages expect T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) to post $2.70 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for T. Rowe Price Group’s earnings. The highest EPS estimate is $2.86 and the lowest is $2.42. T. Rowe Price Group reported earnings per share of $3.31 in the same quarter last year, which suggests a negative year-over-year growth rate of 18.4%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that T. Rowe Price Group will report full-year earnings of $10.93 per share for the current financial year, with EPS estimates ranging from $9.98 to $11.22. For the next fiscal year, analysts expect that the business will report earnings of $11.51 per share, with EPS estimates ranging from $10.53 to $12.28. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its earnings results on Thursday, April 28th. The asset manager reported $2.62 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.14). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. T. Rowe Price Group’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.01 EPS.

Several equities analysts recently commented on the company. Citigroup cut their target price on T. Rowe Price Group from $110.00 to $90.00 in a research report on Friday, April 29th. BMO Capital Markets dropped their target price on T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, May 2nd. StockNews.com started coverage on T. Rowe Price Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group reissued a “hold” rating and issued a $156.00 target price on shares of T. Rowe Price Group in a research note on Monday, April 11th. Finally, Morgan Stanley reduced their price objective on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $170.00.

Shares of T. Rowe Price Group stock traded up $2.72 during midday trading on Friday, hitting $121.96. 1,705,670 shares of the company were exchanged, compared to its average volume of 1,740,971. The firm has a market cap of $27.72 billion, a P/E ratio of 9.87, a PEG ratio of 1.77 and a beta of 1.34. T. Rowe Price Group has a 52 week low of $112.65 and a 52 week high of $224.55. The firm has a 50 day simple moving average of $139.39 and a 200-day simple moving average of $167.18.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 15th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Tuesday, June 14th. T. Rowe Price Group’s payout ratio is presently 38.83%.

In other news, insider Jessica M. Hiebler sold 730 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $125.00, for a total value of $91,250.00. Following the transaction, the insider now directly owns 13,089 shares of the company’s stock, valued at $1,636,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,260 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $143.65, for a total transaction of $180,999.00. The disclosure for this sale can be found here. Insiders sold 10,206 shares of company stock worth $1,446,480 over the last three months. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TROW. OLD Mission Capital LLC acquired a new position in shares of T. Rowe Price Group in the third quarter valued at about $5,688,000. Advisor Group Holdings Inc. grew its stake in shares of T. Rowe Price Group by 8.8% in the third quarter. Advisor Group Holdings Inc. now owns 55,980 shares of the asset manager’s stock valued at $11,033,000 after acquiring an additional 4,544 shares in the last quarter. Truist Financial Corp grew its stake in shares of T. Rowe Price Group by 11.1% in the third quarter. Truist Financial Corp now owns 53,535 shares of the asset manager’s stock valued at $10,531,000 after acquiring an additional 5,341 shares in the last quarter. Moors & Cabot Inc. acquired a new position in shares of T. Rowe Price Group in the third quarter valued at about $32,000. Finally, Mackenzie Financial Corp grew its stake in shares of T. Rowe Price Group by 7.1% in the third quarter. Mackenzie Financial Corp now owns 26,282 shares of the asset manager’s stock valued at $5,170,000 after acquiring an additional 1,746 shares in the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

T. Rowe Price Group Company Profile (Get Rating)

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

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