Analysts predict that T. Rowe Price Group Inc (NASDAQ:TROW) will report earnings of $1.40 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for T. Rowe Price Group’s earnings, with the highest EPS estimate coming in at $1.45 and the lowest estimate coming in at $1.33. T. Rowe Price Group reported earnings of $1.77 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 20.9%. The firm is expected to announce its next earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that T. Rowe Price Group will report full-year earnings of $6.04 per share for the current financial year, with EPS estimates ranging from $5.56 to $6.40. For the next financial year, analysts forecast that the company will report earnings of $6.53 per share, with EPS estimates ranging from $5.27 to $7.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.25). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.12%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share.
T. Rowe Price Group stock traded up $0.24 during mid-day trading on Friday, hitting $97.58. 1,696,044 shares of the company were exchanged, compared to its average volume of 1,695,120. T. Rowe Price Group has a 1-year low of $84.59 and a 1-year high of $127.43. The firm has a market capitalization of $23.62 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.66 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.76 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. T. Rowe Price Group’s dividend payout ratio is presently 39.16%.
In related news, VP Christopher D. Alderson sold 5,681 shares of the company’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $92.22, for a total transaction of $523,901.82. Following the transaction, the vice president now directly owns 118,818 shares of the company’s stock, valued at approximately $10,957,395.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Reilly Financial Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 66.3% in the fourth quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after acquiring an additional 118 shares during the period. Ruggie Capital Group purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $28,000. Financial Gravity Companies Inc. purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $30,000. Pearl River Capital LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth about $31,000. Finally, Rational Advisors LLC increased its holdings in shares of T. Rowe Price Group by 306.7% in the fourth quarter. Rational Advisors LLC now owns 366 shares of the asset manager’s stock worth $34,000 after buying an additional 276 shares during the period. 73.50% of the stock is owned by institutional investors.
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.
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