T. Rowe Price Group (TROW) to Release Quarterly Earnings on Friday

T. Rowe Price Group (NASDAQ:TROW) is scheduled to issue its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $1.96 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $1.74 EPS. T. Rowe Price Group’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts expect T. Rowe Price Group to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

T. Rowe Price Group Trading Down 0.8 %

T. Rowe Price Group stock opened at $111.06 on Thursday. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $132.76. The business’s 50 day simple moving average is $114.98 and its 200 day simple moving average is $106.98. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.09 and a beta of 1.40.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.47%. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Analyst Ratings Changes

A number of research analysts have weighed in on TROW shares. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Citigroup lifted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley lifted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $112.67.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% 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.