Brokers Issue Forecasts for T. Rowe Price Group Inc’s FY2018 Earnings (TROW)

T. Rowe Price Group Inc (NASDAQ:TROW) – Stock analysts at William Blair boosted their FY2018 earnings estimates for shares of T. Rowe Price Group in a report released on Thursday, October 25th. William Blair analyst C. Shutler now forecasts that the asset manager will post earnings of $7.38 per share for the year, up from their previous forecast of $7.25. William Blair also issued estimates for T. Rowe Price Group’s Q4 2018 earnings at $1.77 EPS and FY2019 earnings at $7.18 EPS.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.37. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same quarter last year, the company earned $1.56 earnings per share.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank cut their price target on shares of T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Citigroup cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating for the company in a research note on Monday. BidaskClub cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $114.11.

Shares of TROW opened at $96.22 on Monday. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. T. Rowe Price Group has a 12 month low of $90.95 and a 12 month high of $127.43.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dubuque Bank & Trust Co. increased its holdings in shares of T. Rowe Price Group by 2.4% during the third quarter. Dubuque Bank & Trust Co. now owns 38,517 shares of the asset manager’s stock worth $4,205,000 after buying an additional 897 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of T. Rowe Price Group by 1.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 110,342 shares of the asset manager’s stock worth $12,047,000 after buying an additional 1,439 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of T. Rowe Price Group by 1.0% during the third quarter. Arizona State Retirement System now owns 88,989 shares of the asset manager’s stock worth $9,716,000 after buying an additional 853 shares in the last quarter. Greenleaf Trust increased its holdings in shares of T. Rowe Price Group by 25.1% during the third quarter. Greenleaf Trust now owns 4,888 shares of the asset manager’s stock worth $534,000 after buying an additional 982 shares in the last quarter. Finally, GWM Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $374,000. 70.27% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, December 13th. T. Rowe Price Group’s payout ratio is 51.57%.

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.

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

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