Wall Street analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to report earnings of $1.48 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for T. Rowe Price Group’s earnings, with the lowest EPS estimate coming in at $1.37 and the highest estimate coming in at $1.57. T. Rowe Price Group posted earnings per share of $1.21 in the same quarter last year, which would indicate a positive year over year growth rate of 22.3%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, January 30th.
On average, analysts expect that T. Rowe Price Group will report full year earnings of $6.08 per share for the current fiscal year, with EPS estimates ranging from $5.97 to $6.17. For the next financial year, analysts expect that the company will post earnings of $6.67 per share, with EPS estimates ranging from $5.70 to $7.35. Zacks’ EPS calculations are an average based on a survey of research firms that follow T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating 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 business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.
T. Rowe Price Group (TROW) opened at $117.35 on Friday. T. Rowe Price Group has a one year low of $65.33 and a one year high of $118.19. The company has a market cap of $28,440.00, a price-to-earnings ratio of 19.21, a PEG ratio of 1.61 and a beta of 1.32.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, December 13th. T. Rowe Price Group’s payout ratio is 37.32%.
In other T. Rowe Price Group news, CEO William J. Stromberg sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were 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 of the company’s stock, valued at approximately $51,853,535.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP W. Sharps Robert sold 5,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $98.64, for a total transaction of $493,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,980 shares of company stock valued at $20,776,729. Company insiders own 3.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth $118,000. Grove Bank & Trust grew its holdings in T. Rowe Price Group by 178.7% during the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after acquiring an additional 840 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after acquiring an additional 89 shares in the last quarter. Sun Life Financial INC grew its holdings in T. Rowe Price Group by 19,500.0% during the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after acquiring an additional 1,755 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. acquired a new position in T. Rowe Price Group during the 4th quarter worth $205,000. 72.33% of the stock is owned by institutional investors.
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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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