Equities analysts expect T. Rowe Price Group, Inc. (NASDAQ:TROW) to announce $1.20 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for T. Rowe Price Group’s earnings, with estimates ranging from $1.19 billion to $1.21 billion. T. Rowe Price Group posted sales of $1.09 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The business is scheduled to issue its next earnings results on Thursday, October 26th.

On average, analysts expect that T. Rowe Price Group will report full year sales of $1.20 billion for the current financial year, with estimates ranging from $4.65 billion to $4.72 billion. For the next fiscal year, analysts forecast that the firm will post sales of $4.88 billion per share, with estimates ranging from $4.63 billion to $5.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover T. Rowe Price Group.

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

A number of research analysts have recently weighed in on the company. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Citigroup Inc. increased their price target on T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Finally, Credit Suisse Group increased their price target on T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $77.90.

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 83.18 on Thursday. The stock’s 50 day moving average price is $78.88 and its 200-day moving average price is $72.71. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 14.28 and a beta of 1.24. T. Rowe Price Group has a 12 month low of $62.97 and a 12 month high of $85.42.

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In related news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the sale, the director now owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the sale, the insider now directly owns 82,299 shares in the company, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock valued at $1,116,214,000 after buying an additional 15,480,155 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after buying an additional 156,326 shares during the last quarter. Geode Capital Management LLC increased its stake in T. Rowe Price Group by 8.8% in the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock valued at $191,869,000 after buying an additional 228,194 shares in the last quarter. American Century Companies Inc. increased its stake in T. Rowe Price Group by 66.4% in the second quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock valued at $188,839,000 after buying an additional 1,015,518 shares in the last quarter. Finally, Thomaspartners Inc. increased its stake in T. Rowe Price Group by 12.6% in the first quarter. Thomaspartners Inc. now owns 2,208,621 shares of the asset manager’s stock valued at $150,518,000 after buying an additional 246,695 shares in the last quarter. 71.86% of the stock is currently owned by institutional investors and hedge funds.

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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