T. Rowe Price Group Inc Forecasted to Earn FY2017 Earnings of $5.39 Per Share (TROW)

T. Rowe Price Group Inc (NASDAQ:TROW) – Research analysts at William Blair raised their FY2017 EPS estimates for shares of T. Rowe Price Group in a research report issued on Monday. William Blair analyst C. Shutler now expects that the asset manager will post earnings per share of $5.39 for the year, up from their prior forecast of $5.33. William Blair also issued estimates for T. Rowe Price Group’s Q4 2017 earnings at $1.47 EPS, Q1 2018 earnings at $1.74 EPS, Q2 2018 earnings at $1.80 EPS, Q3 2018 earnings at $1.82 EPS, Q4 2018 earnings at $1.76 EPS, FY2018 earnings at $7.12 EPS and FY2019 earnings at $7.20 EPS.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly 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 firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis.

A number of other equities research analysts have also recently commented on TROW. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Tuesday, September 26th. UBS Group upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $110.00 in a report on Tuesday, January 9th. Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Bank of America upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $113.00 to $125.00 in a report on Monday, January 8th. Finally, Morgan Stanley upgraded shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and raised their target price for the stock from $77.00 to $93.00 in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $98.70.

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at $118.08 on Wednesday. T. Rowe Price Group has a fifty-two week low of $65.33 and a fifty-two week high of $118.36. The company has a market cap of $28,610.00, a P/E ratio of 19.33, a PEG ratio of 1.62 and a beta of 1.32.

Several institutional investors have recently modified their holdings of the company. Security National Bank of SO Dak boosted its stake in shares of T. Rowe Price Group by 0.7% during the 2nd quarter. Security National Bank of SO Dak now owns 11,910 shares of the asset manager’s stock worth $884,000 after acquiring an additional 85 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of 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 during the last quarter. Hall Capital Management Co. Inc. boosted its stake in shares of T. Rowe Price Group by 1.2% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 10,942 shares of the asset manager’s stock worth $812,000 after acquiring an additional 130 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of T. Rowe Price Group by 2.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,118 shares of the asset manager’s stock worth $677,000 after acquiring an additional 200 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 6.9% during the 2nd quarter. Flinton Capital Management LLC now owns 4,448 shares of the asset manager’s stock worth $330,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

In other news, CFO Kenneth V. Moreland sold 14,419 shares of T. Rowe Price Group stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the transaction, the chief financial officer now owns 125,264 shares in the company, valued at approximately $12,159,376.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Stromberg sold 30,000 shares of T. Rowe Price Group stock in a transaction 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 transaction, the chief executive officer now owns 534,077 shares in the company, valued at approximately $51,853,535.93. The disclosure for this sale can be found here. Insiders sold 204,980 shares of company stock worth $20,776,729 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

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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.

Earnings History and Estimates for T. Rowe Price Group (NASDAQ:TROW)

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