$1.27 Billion in Sales Expected for T. Rowe Price Group Inc (TROW) This Quarter

Wall Street brokerages forecast that T. Rowe Price Group Inc (NASDAQ:TROW) will post $1.27 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for T. Rowe Price Group’s earnings, with estimates ranging from $1.24 billion to $1.31 billion. T. Rowe Price Group posted sales of $1.33 billion in the same quarter last year, which would indicate a negative year over year growth rate of 4.5%. The company is scheduled to report its next earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that T. Rowe Price Group will report full year sales of $5.31 billion for the current year, with estimates ranging from $5.07 billion to $5.55 billion. For the next year, analysts expect that the firm will report sales of $5.61 billion, with estimates ranging from $5.24 billion to $6.03 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.25). T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 1.1% on a year-over-year basis.

TROW has been the topic of a number of recent research reports. Goldman Sachs Group cut T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a report on Friday, January 4th. Morgan Stanley set a $101.00 price objective on T. Rowe Price Group and gave the company a “hold” rating in a research note on Friday, February 8th. Citigroup dropped their price objective on T. Rowe Price Group from $105.00 to $101.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 19th. BidaskClub upgraded T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Finally, Zacks Investment Research cut T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $105.33.

Shares of TROW traded up $0.70 during trading hours on Thursday, reaching $104.75. The stock had a trading volume of 872,640 shares, compared to its average volume of 1,424,403. T. Rowe Price Group has a 12 month low of $84.59 and a 12 month high of $127.43. The stock has a market cap of $24.57 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.87 and a beta of 1.04.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 annualized dividend and a yield of 2.90%. T. Rowe Price Group’s dividend payout ratio (DPR) is 42.52%.

In other news, VP W. Sharps Robert sold 2,617 shares of T. Rowe Price Group stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $100.73, for a total transaction of $263,610.41. Following the sale, the vice president now directly owns 448,651 shares in the company, valued at approximately $45,192,615.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward C. Bernard sold 10,000 shares of T. Rowe Price Group stock in a transaction on Friday, February 15th. The stock was sold at an average price of $97.15, for a total value of $971,500.00. Following the sale, the insider now owns 651,532 shares in the company, valued at $63,296,333.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,082 shares of company stock worth $11,361,948. Company insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Curbstone Financial Management Corp raised its stake in shares of T. Rowe Price Group by 1.3% during the 1st quarter. Curbstone Financial Management Corp now owns 7,590 shares of the asset manager’s stock worth $760,000 after purchasing an additional 100 shares during the period. Reilly Financial Advisors LLC raised its stake in shares of T. Rowe Price Group by 66.3% during the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after purchasing an additional 118 shares during the period. Alpha Windward LLC raised its stake in shares of T. Rowe Price Group by 4.8% during the 4th quarter. Alpha Windward LLC now owns 2,631 shares of the asset manager’s stock worth $243,000 after purchasing an additional 120 shares during the period. Leavell Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.1% during the 4th quarter. Leavell Investment Management Inc. now owns 4,021 shares of the asset manager’s stock worth $371,000 after purchasing an additional 121 shares during the period. Finally, Lcnb Corp raised its stake in shares of T. Rowe Price Group by 2.6% during the 4th quarter. Lcnb Corp now owns 4,920 shares of the asset manager’s stock worth $454,000 after purchasing an additional 124 shares during the period. Institutional investors own 72.65% 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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Earnings History and Estimates for T. Rowe Price Group (NASDAQ:TROW)

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