T. Rowe Price Group Inc (NASDAQ:TROW) – Investment analysts at William Blair boosted their Q4 2018 earnings per share (EPS) estimates for T. Rowe Price Group in a note issued to investors on Monday. William Blair analyst C. Shutler now forecasts that the asset manager will earn $1.74 per share for the quarter, up from their previous forecast of $1.73.
Several other brokerages have also recently issued reports on TROW. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 27th. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b+” rating in a research note on Monday, March 5th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank boosted their target price on shares of T. Rowe Price Group from $115.00 to $116.00 and gave the company a “hold” rating in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $110.50.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company earned $1.21 EPS. T. Rowe Price Group’s revenue was up 17.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.42%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, March 14th. T. Rowe Price Group’s payout ratio is presently 38.19%.
In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $101.59, for a total value of $406,360.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth V. Moreland sold 8,066 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the transaction, the chief financial officer now owns 100,796 shares in the company, valued at $10,494,879.52. The disclosure for this sale can be found here. Insiders sold a total of 103,671 shares of company stock worth $10,707,156 over the last quarter. 3.60% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of TROW. Signature Estate & Investment Advisors LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter worth approximately $118,000. Grove Bank & Trust lifted its holdings in shares of T. Rowe Price Group by 178.7% in 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 during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of T. Rowe Price Group by 50.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after acquiring an additional 491 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter worth approximately $202,000. Finally, Stock Yards Bank & Trust Co. acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 72.88% of the company’s stock.
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T. Rowe Price Group Company Profile
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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