T. Rowe Price Group (TROW) Set to Announce Earnings on Thursday

T. Rowe Price Group (NASDAQ:TROW) is scheduled to be releasing its earnings data before the market opens on Thursday, April 29th. Analysts expect T. Rowe Price Group to post earnings of $2.84 per share for the quarter.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, January 28th. The asset manager reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.21. T. Rowe Price Group had a return on equity of 30.52% and a net margin of 35.92%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts expect T. Rowe Price Group to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Shares of TROW opened at $178.82 on Tuesday. The business has a 50-day simple moving average of $175.39 and a two-hundred day simple moving average of $156.97. T. Rowe Price Group has a 12-month low of $101.36 and a 12-month high of $183.05. The stock has a market cap of $40.76 billion, a PE ratio of 20.02, a PEG ratio of 1.19 and a beta of 1.15.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 30th. Investors of record on Tuesday, March 16th were given a dividend of $1.08 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Monday, March 15th. This represents a $4.32 annualized dividend and a dividend yield of 2.42%. T. Rowe Price Group’s dividend payout ratio is presently 53.53%.

In related news, President W. Sharps Robert sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $176.75, for a total transaction of $1,060,500.00. Following the sale, the president now owns 472,138 shares of the company’s stock, valued at approximately $83,450,391.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Stromberg sold 9,000 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $173.78, for a total transaction of $1,564,020.00. Insiders own 1.00% of the company’s stock.

A hedge fund recently bought a new stake in T. Rowe Price Group stock. OLD Mission Capital LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 44,363 shares of the asset manager’s stock, valued at approximately $5,688,000. 69.48% of the stock is owned by institutional investors.

Several brokerages recently commented on TROW. Wells Fargo & Company upped their target price on T. Rowe Price Group from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, April 20th. Credit Suisse Group lowered T. Rowe Price Group from an “outperform” rating to a “neutral” rating and upped their target price for the company from $179.00 to $181.00 in a research report on Tuesday, March 30th. They noted that the move was a valuation call. Morgan Stanley upped their target price on T. Rowe Price Group from $169.00 to $181.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 14th. The Goldman Sachs Group upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and upped their target price for the company from $134.00 to $170.00 in a research report on Tuesday, January 5th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “sell” rating and set a $157.00 price target on shares of T. Rowe Price Group in a research note on Tuesday, April 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $158.50.

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 for T. Rowe Price Group (NASDAQ:TROW)

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