T. Rowe Price Group (NASDAQ:TROW – Get Free Report) released its quarterly earnings results on Friday. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34, RTT News reports. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm earned $1.69 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis.
T. Rowe Price Group Trading Up 4.8 %
T. Rowe Price Group stock opened at $114.02 on Friday. The firm has a 50-day moving average price of $115.10 and a 200-day moving average price of $107.07. The firm has a market capitalization of $25.50 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $132.76.
T. Rowe Price Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.
Insider Activity at T. Rowe Price Group
Analyst Upgrades and Downgrades
TROW has been the topic of several recent research reports. Citigroup increased their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $112.67.
Check Out Our Latest Stock Report on T. Rowe Price Group
About T. Rowe Price Group
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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