Equities analysts expect that T. Rowe Price Group, Inc. (NASDAQ:TROW) will post $1.25 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for T. Rowe Price Group’s earnings, with estimates ranging from $1.24 billion to $1.26 billion. T. Rowe Price Group reported sales of $1.09 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 14.7%. The company is expected to issue its next earnings report on Thursday, January 25th.
According to Zacks, analysts expect that T. Rowe Price Group will report full year sales of $1.25 billion for the current year, with estimates ranging from $4.75 billion to $4.76 billion. For the next year, analysts forecast that the firm will report sales of $5.09 billion per share, with estimates ranging from $5.02 billion to $5.20 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. T. Rowe Price Group’s quarterly revenue was up 11.8% on a year-over-year basis.
Shares of T. Rowe Price Group (NASDAQ:TROW) opened at $102.92 on Friday. T. Rowe Price Group has a one year low of $65.33 and a one year high of $103.85. The firm has a market cap of $24,800.00, a PE ratio of 19.48, a P/E/G ratio of 1.83 and a beta of 1.28.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 2.22%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 37.32%.
In other news, CEO William J. Stromberg sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the completion of the transaction, the chief executive officer now directly owns 534,077 shares in the company, valued at $51,853,535.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP W. Sharps Robert sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $98.64, for a total value of $493,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,705 shares of company stock valued at $7,861,938. Corporate insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpha Cubed Investments LLC bought a new stake in T. Rowe Price Group in the third quarter valued at $256,000. Reliance Trust Co. of Delaware bought a new stake in shares of T. Rowe Price Group during the third quarter worth $304,000. JPMorgan Chase & Co. grew its holdings in shares of T. Rowe Price Group by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock worth $872,439,000 after purchasing an additional 156,326 shares during the last quarter. Ffcm LLC grew its holdings in shares of T. Rowe Price Group by 6.4% during the second quarter. Ffcm LLC now owns 37,660 shares of the asset manager’s stock worth $2,795,000 after purchasing an additional 2,261 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A grew its holdings in shares of T. Rowe Price Group by 11.6% during the third quarter. OLD Point Trust & Financial Services N A now owns 15,334 shares of the asset manager’s stock worth $1,390,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 72.19% of the company’s stock.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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