T. Rowe Price Group Inc (NASDAQ:TROW) – Research analysts at Jefferies Group boosted their FY2017 earnings estimates for shares of T. Rowe Price Group in a note issued to investors on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will post earnings of $5.28 per share for the year, up from their previous estimate of $5.18. Jefferies Group currently has a “Buy” rating and a $104.00 target price on the stock. Jefferies Group also issued estimates for T. Rowe Price Group’s Q4 2017 earnings at $1.37 EPS, Q1 2018 earnings at $1.59 EPS, Q2 2018 earnings at $1.79 EPS, Q3 2018 earnings at $1.86 EPS, Q4 2018 earnings at $1.86 EPS, FY2018 earnings at $7.10 EPS and FY2019 earnings at $7.67 EPS.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, topping the 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year.
T. Rowe Price Group (TROW) opened at $115.35 on Friday. T. Rowe Price Group has a 1 year low of $65.33 and a 1 year high of $115.62. The firm has a market cap of $27,950.00, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32.
The company also recently disclosed 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. This represents a $2.28 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Wednesday, December 13th. T. Rowe Price Group’s payout ratio is 37.32%.
In related news, VP Christopher D. Alderson sold 6,808 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $102.83, for a total transaction of $700,066.64. Following the completion of the transaction, the vice president now owns 119,846 shares of the company’s stock, valued at $12,323,764.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Stromberg sold 30,000 shares of the company’s stock in a transaction that occurred 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 directly owns 534,077 shares of the company’s stock, valued at approximately $51,853,535.93. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock worth $20,776,729 in the last three months. Insiders own 3.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC acquired a new position in T. Rowe Price Group during the third quarter worth approximately $118,000. Grove Bank & Trust increased its position in T. Rowe Price Group by 178.7% during the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after purchasing an additional 840 shares during the last quarter. Quadrant Capital Group LLC increased its position in T. Rowe Price Group by 5.4% during the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after purchasing an additional 89 shares during the last quarter. Sun Life Financial INC increased its position in T. Rowe Price Group by 19,500.0% during the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after purchasing an additional 1,755 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $205,000. 72.38% of the stock is owned by hedge funds and other institutional investors.
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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