Zacks: Analysts Expect T. Rowe Price Group Inc (NASDAQ:TROW) to Post $1.87 Earnings Per Share

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Wall Street brokerages predict that T. Rowe Price Group Inc (NASDAQ:TROW) will post $1.87 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for T. Rowe Price Group’s earnings. The highest EPS estimate is $1.95 and the lowest is $1.79. T. Rowe Price Group posted earnings of $1.77 per share in the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The firm is expected to issue its next earnings results on Wednesday, July 24th.

On average, analysts expect that T. Rowe Price Group will report full-year earnings of $7.54 per share for the current year, with EPS estimates ranging from $7.06 to $7.75. For the next fiscal year, analysts anticipate that the business will post earnings of $7.77 per share, with EPS estimates ranging from $7.06 to $8.40. Zacks Investment Research’s earnings per share 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 quarterly earnings results on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, topping the consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm posted $1.74 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis.

Several brokerages have commented on TROW. UBS Group boosted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays increased their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Gabelli reiterated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. BidaskClub cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Finally, Citigroup increased their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $105.92.

NASDAQ:TROW traded down $0.42 on Wednesday, hitting $110.00. 12,872 shares of the company’s stock were exchanged, compared to its average volume of 1,013,518. The business has a 50-day simple moving average of $105.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.74 and a current ratio of 3.74. T. Rowe Price Group has a 52 week low of $84.59 and a 52 week high of $125.35. The stock has a market capitalization of $25.98 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.62 and a beta of 1.07.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, June 13th. T. Rowe Price Group’s payout ratio is 42.52%.

In other T. Rowe Price Group news, insider Edward C. Bernard sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $107.92, for a total value of $2,158,400.00. Following the completion of the sale, the insider now directly owns 649,135 shares in the company, valued at $70,054,649.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott B. David sold 45,118 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the completion of the sale, the vice president now owns 48,454 shares of the company’s stock, valued at $5,227,217.52. The disclosure for this sale can be found here. Insiders sold 68,618 shares of company stock valued at $7,400,440 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in T. Rowe Price Group by 9.2% in the 4th quarter. Advisors Asset Management Inc. now owns 28,277 shares of the asset manager’s stock valued at $2,611,000 after acquiring an additional 2,385 shares in the last quarter. Comerica Securities Inc. grew its holdings in T. Rowe Price Group by 2.7% in the fourth quarter. Comerica Securities Inc. now owns 7,947 shares of the asset manager’s stock worth $734,000 after purchasing an additional 208 shares during the period. Private Advisor Group LLC grew its holdings in T. Rowe Price Group by 10.0% in the fourth quarter. Private Advisor Group LLC now owns 6,069 shares of the asset manager’s stock worth $562,000 after purchasing an additional 552 shares during the period. Bank of New York Mellon Corp grew its holdings in T. Rowe Price Group by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,204,173 shares of the asset manager’s stock worth $203,490,000 after purchasing an additional 71,359 shares during the period. Finally, Raymond James & Associates grew its holdings in T. Rowe Price Group by 8.2% in the fourth quarter. Raymond James & Associates now owns 146,651 shares of the asset manager’s stock worth $13,539,000 after purchasing an additional 11,062 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.

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.

See Also: Convertible Shares

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

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