T. Rowe Price Group (TROW) to Release Quarterly Earnings on Friday

T. Rowe Price Group (NASDAQ:TROW) is set to issue its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $1.96 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. T. Rowe Price Group’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, analysts expect T. Rowe Price Group to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $111.94 on Wednesday. The company has a market cap of $25.03 billion, a P/E ratio of 14.43, a PEG ratio of 2.04 and a beta of 1.40. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76. The firm has a fifty day moving average of $114.89 and a two-hundred day moving average of $106.95.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio is presently 63.92%.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group upped their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Finally, Morgan Stanley upped their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $112.67.

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.