Analysts expect T. Rowe Price Group, Inc. (NASDAQ:TROW) to report sales of $1.87 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for T. Rowe Price Group’s earnings. The highest sales estimate is $1.87 billion and the lowest is $1.86 billion. T. Rowe Price Group posted sales of $1.42 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.7%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 4th.
On average, analysts expect that T. Rowe Price Group will report full year sales of $7.52 billion for the current year, with estimates ranging from $7.47 billion to $7.55 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.88 billion, with estimates ranging from $7.67 billion to $8.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 29th. The asset manager reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.09. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. T. Rowe Price Group’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted $1.87 EPS.
A number of research analysts have commented on TROW shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “sell” rating and issued a $157.00 price objective on shares of T. Rowe Price Group in a research note on Tuesday, April 20th. Barclays boosted their price objective on shares of T. Rowe Price Group from $145.00 to $150.00 and gave the stock an “underweight” rating in a report on Monday, January 25th. The Goldman Sachs Group raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $134.00 to $170.00 in a report on Tuesday, January 5th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, April 20th. Finally, Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $191.00 price target on the stock. in a report on Saturday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $166.36.
Shares of NASDAQ TROW traded down $0.83 during trading on Thursday, hitting $181.86. 1,209,833 shares of the company were exchanged, compared to its average volume of 1,176,585. The company has a fifty day moving average price of $176.13 and a 200-day moving average price of $158.22. The firm has a market capitalization of $41.26 billion, a PE ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 1.15. T. Rowe Price Group has a 12-month low of $105.56 and a 12-month high of $183.92.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were given a $1.08 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.90. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Monday, March 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 53.53%.
In other T. Rowe Price Group news, President W. Sharps Robert sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $176.75, for a total transaction of $1,060,500.00. Following the transaction, the president now directly owns 472,138 shares in the company, valued at $83,450,391.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William J. Stromberg sold 9,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $173.78, for a total value of $1,564,020.00. 1.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of TROW. Montag A & Associates Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $25,000. CVA Family Office LLC bought a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $27,000. Ellevest Inc. grew its holdings in shares of T. Rowe Price Group by 435.0% in the 4th quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Peconic Partners LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $35,000. Finally, Bogart Wealth LLC grew its holdings in shares of T. Rowe Price Group by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 216 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 69.48% 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.
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