Equities analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to post $1.26 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for T. Rowe Price Group’s earnings, with the lowest sales estimate coming in at $1.24 billion and the highest estimate coming in at $1.28 billion. T. Rowe Price Group reported sales of $1.09 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.6%. The business is scheduled 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 sales of $1.26 billion for the current financial year, with estimates ranging from $4.76 billion to $4.78 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.18 billion per share, with estimates ranging from $5.02 billion to $5.33 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share.
In related news, CFO Kenneth V. Moreland sold 8,066 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the sale, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth V. Moreland sold 14,419 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total value of $1,399,652.33. Following the sale, the chief financial officer now directly owns 125,264 shares of the company’s stock, valued at approximately $12,159,376.48. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock valued at $20,776,729 in the last ninety days. 3.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $118,000. Grove Bank & Trust grew its stake in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 840 shares during the period. Quadrant Capital Group LLC grew its stake in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after acquiring an additional 89 shares during the period. Sun Life Financial INC grew its stake in T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 1,755 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $152,000. 72.43% of the stock is owned by institutional investors and hedge funds.
Shares of T. Rowe Price Group (NASDAQ:TROW) traded up $1.56 during mid-day trading on Monday, hitting $117.35. The stock had a trading volume of 1,719,900 shares, compared to its average volume of 1,423,508. The firm has a market capitalization of $28,360.00, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. T. Rowe Price Group has a 12 month low of $65.33 and a 12 month high of $118.19.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were paid a dividend of $0.57 per share. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 1.94%. T. Rowe Price Group’s dividend payout ratio is currently 37.32%.
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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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