T. Rowe Price Group, Inc. (TROW) Expected to Post Quarterly Sales of $1.22 Billion

Wall Street analysts expect that T. Rowe Price Group, Inc. (NASDAQ:TROW) will report sales of $1.22 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for T. Rowe Price Group’s earnings, with estimates ranging from $1.19 billion to $1.24 billion. T. Rowe Price Group posted sales of $1.09 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 26th.

According to Zacks, analysts expect that T. Rowe Price Group will report full-year sales of $1.22 billion for the current fiscal year, with estimates ranging from $4.68 billion to $4.79 billion. For the next fiscal year, analysts expect that the company will report sales of $5.07 billion per share, with estimates ranging from $4.96 billion to $5.20 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $0.76 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis.

TROW has been the topic of several research reports. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price objective (up previously from $64.00) on shares of T. Rowe Price Group in a research note on Monday, July 10th. Credit Suisse Group increased their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and set a $104.00 price objective (up previously from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Tuesday, September 12th. Finally, Barclays PLC initiated coverage on shares of T. Rowe Price Group in a research note on Friday, September 8th. They set an “underweight” rating and a $79.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $87.60.

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T. Rowe Price Group (NASDAQ TROW) traded down 0.08% during trading on Monday, hitting $95.07. The company had a trading volume of 1,734,989 shares. The company has a market cap of $22.85 billion, a PE ratio of 16.32 and a beta of 1.25. T. Rowe Price Group has a 12 month low of $62.97 and a 12 month high of $97.35. The company’s 50 day moving average price is $89.68 and its 200-day moving average price is $79.57.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the transaction, the insider now directly owns 8,461 shares in the company, valued at $713,177.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne M. Whittemore sold 4,163 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $90.64, for a total transaction of $377,334.32. Following the completion of the transaction, the director now owns 29,070 shares of the company’s stock, valued at $2,634,904.80. The disclosure for this sale can be found here. Insiders sold 18,204 shares of company stock valued at $1,640,922 over the last quarter. Insiders own 3.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in 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 buying an additional 156,326 shares in the last quarter. Ffcm LLC boosted its holdings in 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 buying an additional 2,261 shares in the last quarter. Aviva PLC boosted its holdings in T. Rowe Price Group by 1.9% during the second quarter. Aviva PLC now owns 147,815 shares of the asset manager’s stock worth $10,969,000 after buying an additional 2,760 shares in the last quarter. AXA boosted its holdings in T. Rowe Price Group by 68.6% during the second quarter. AXA now owns 624,107 shares of the asset manager’s stock worth $46,315,000 after buying an additional 253,900 shares in the last quarter. Finally, Bridgewater Associates LP boosted its holdings in T. Rowe Price Group by 14.9% during the first quarter. Bridgewater Associates LP now owns 131,857 shares of the asset manager’s stock worth $8,986,000 after buying an additional 17,119 shares in the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.

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

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