$1.93 Billion in Sales Expected for T. Rowe Price Group, Inc. (NASDAQ:TROW) This Quarter

Equities analysts expect that T. Rowe Price Group, Inc. (NASDAQ:TROW) will report sales of $1.93 billion for the current quarter, according to Zacks. Two analysts have provided estimates for T. Rowe Price Group’s earnings. The highest sales estimate is $1.94 billion and the lowest is $1.92 billion. T. Rowe Price Group reported sales of $1.73 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The business is scheduled to report its next quarterly earnings results on Thursday, January 27th.

According to Zacks, analysts expect that T. Rowe Price Group will report full year sales of $7.64 billion for the current fiscal year, with estimates ranging from $7.63 billion to $7.65 billion. For the next financial year, analysts anticipate that the business will report sales of $8.08 billion, with estimates ranging from $7.76 billion to $8.51 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 28th. The asset manager reported $3.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.31 by ($0.04). T. Rowe Price Group had a return on equity of 36.62% and a net margin of 41.71%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company earned $2.55 earnings per share. T. Rowe Price Group’s quarterly revenue was up 22.5% compared to the same quarter last year.

Several brokerages have issued reports on TROW. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $204.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 2nd. Jefferies Financial Group began coverage on shares of T. Rowe Price Group in a research report on Friday, September 10th. They set a “buy” rating and a $245.00 price objective on the stock. Evercore ISI reissued a “buy” rating and set a $211.00 price objective on shares of T. Rowe Price Group in a research report on Friday, October 8th. BMO Capital Markets lifted their target price on shares of T. Rowe Price Group from $234.00 to $253.00 and gave the company a “market perform” rating in a report on Friday, October 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $206.00 price objective on the stock. in a report on Friday, October 8th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $191.79.

Shares of TROW opened at $207.70 on Friday. T. Rowe Price Group has a twelve month low of $142.16 and a twelve month high of $224.55. The firm’s fifty day simple moving average is $207.00 and its 200-day simple moving average is $204.80. The firm has a market capitalization of $46.68 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.86 and a beta of 1.21.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Thursday, December 16th will be issued a $1.08 dividend. The ex-dividend date is Wednesday, December 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.08%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 32.55%.

In related news, VP Sebastien Page sold 7,667 shares of the stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $220.95, for a total value of $1,694,023.65. Following the completion of the transaction, the vice president now owns 35,235 shares in the company, valued at approximately $7,785,173.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TROW. OLD Mission Capital LLC purchased a new stake in T. Rowe Price Group during the third quarter valued at about $5,688,000. Gladstone Institutional Advisory LLC purchased a new stake in T. Rowe Price Group during the first quarter valued at about $329,000. Axiom Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $258,000. B. Metzler seel. Sohn & Co. Holding AG lifted its position in shares of T. Rowe Price Group by 9.8% in the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 15,642 shares of the asset manager’s stock worth $2,685,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of T. Rowe Price Group by 1.4% in the first quarter. Principal Financial Group Inc. now owns 306,224 shares of the asset manager’s stock worth $52,548,000 after purchasing an additional 4,253 shares in the last quarter. 70.89% of the stock is owned by institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. 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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