$1.45 Billion in Sales Expected for T. Rowe Price Group Inc (NASDAQ:TROW) This Quarter

Equities analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to post sales of $1.45 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for T. Rowe Price Group’s earnings. The lowest sales estimate is $1.44 billion and the highest is $1.46 billion. T. Rowe Price Group posted sales of $1.39 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The firm is expected to report its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that T. Rowe Price Group will report full-year sales of $5.63 billion for the current year, with estimates ranging from $5.61 billion to $5.67 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.00 billion, with estimates ranging from $5.87 billion to $6.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.15. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. T. Rowe Price Group’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 earnings per share.

TROW has been the topic of several research analyst reports. Deutsche Bank dropped their price objective on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup upped their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. UBS Group upped their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Finally, Barclays upped their price objective on T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. T. Rowe Price Group has an average rating of “Hold” and an average price target of $109.75.

In other T. Rowe Price Group news, VP Sebastien Page sold 4,418 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $107.05, for a total transaction of $472,946.90. Following the completion of the transaction, the vice president now owns 51,302 shares in the company, valued at approximately $5,491,879.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D. Alderson sold 36,898 shares of T. Rowe Price Group stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $114.41, for a total value of $4,221,500.18. Following the transaction, the vice president now owns 414,144 shares of the company’s stock, valued at approximately $47,382,215.04. The disclosure for this sale can be found here. Insiders have sold a total of 64,209 shares of company stock valued at $7,302,649 in the last quarter. Company insiders own 3.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Close Asset Management Ltd lifted its position in shares of T. Rowe Price Group by 29.4% during the 2nd quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock worth $1,953,000 after buying an additional 4,045 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of T. Rowe Price Group by 58.3% during the 2nd quarter. Bessemer Group Inc. now owns 71,982 shares of the asset manager’s stock worth $7,898,000 after buying an additional 26,503 shares in the last quarter. Legacy Financial Strategies LLC lifted its position in shares of T. Rowe Price Group by 4.3% during the 2nd quarter. Legacy Financial Strategies LLC now owns 6,272 shares of the asset manager’s stock worth $686,000 after buying an additional 261 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of T. Rowe Price Group by 1.9% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 6,318 shares of the asset manager’s stock worth $693,000 after buying an additional 118 shares in the last quarter. Finally, Hendley & Co. Inc. lifted its position in shares of T. Rowe Price Group by 2.0% during the 1st quarter. Hendley & Co. Inc. now owns 58,031 shares of the asset manager’s stock worth $5,810,000 after buying an additional 1,125 shares in the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

NASDAQ:TROW traded down $0.40 on Monday, hitting $108.37. The company’s stock had a trading volume of 3,481 shares, compared to its average volume of 1,234,593. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $109.86 and a two-hundred day moving average of $104.44. The firm has a market capitalization of $25.82 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.05. T. Rowe Price Group has a one year low of $84.59 and a one year high of $117.68.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.04 dividend on an annualized basis and a yield of 2.81%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 42.52%.

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.

Featured Article: Special Dividends

Get a free copy of the Zacks research report on T. Rowe Price Group (TROW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.