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

T. Rowe Price Group (NASDAQ:TROW) is scheduled to announce its earnings results before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $1.96 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.74 earnings per share. 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 Trading Up 0.4 %

NASDAQ TROW opened at $111.94 on Wednesday. The stock has a market cap of $25.03 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.04 and a beta of 1.40. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a fifty day simple moving average of $114.89 and a two-hundred day simple moving average of $106.95.

T. Rowe Price Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. UBS Group increased their price objective 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. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. increased their price objective 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. Finally, Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.67.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group 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 owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group 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 completion of the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Company Profile

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.