Q2 2024 EPS Estimates for T. Rowe Price Group, Inc. (NASDAQ:TROW) Increased by Analyst

T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) – Research analysts at Zacks Research increased their Q2 2024 earnings estimates for T. Rowe Price Group in a research note issued on Friday, May 17th. Zacks Research analyst R. Department now forecasts that the asset manager will earn $2.02 per share for the quarter, up from their previous forecast of $1.99. The consensus estimate for T. Rowe Price Group’s current full-year earnings is $8.80 per share. Zacks Research also issued estimates for T. Rowe Price Group’s Q3 2024 earnings at $2.12 EPS, Q4 2024 earnings at $1.97 EPS, FY2024 earnings at $8.49 EPS, Q1 2025 earnings at $2.07 EPS, Q2 2025 earnings at $2.21 EPS, Q1 2026 earnings at $2.25 EPS and FY2026 earnings at $9.24 EPS.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price target 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. 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 note on Friday, April 5th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Finally, UBS Group increased their price target 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. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $112.10.

Check Out Our Latest Stock Analysis on TROW

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $117.63 on Monday. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $132.76. The firm’s 50 day moving average price is $114.93 and its 200 day moving average price is $109.20. The firm has a market cap of $26.27 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.69 earnings per share. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TROW. Panagora Asset Management Inc. grew its holdings in T. Rowe Price Group by 44.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 7,386 shares of the asset manager’s stock worth $775,000 after acquiring an additional 2,268 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of T. Rowe Price Group by 2.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 17,401 shares of the asset manager’s stock valued at $1,825,000 after buying an additional 428 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of T. Rowe Price Group by 6.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,049 shares of the asset manager’s stock valued at $1,998,000 after buying an additional 1,113 shares during the period. FDx Advisors Inc. acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $455,000. Finally, Empirical Finance LLC boosted its holdings in shares of T. Rowe Price Group by 10.3% in the 3rd quarter. Empirical Finance LLC now owns 7,855 shares of the asset manager’s stock valued at $824,000 after buying an additional 736 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

T. Rowe Price Group Company Profile

(Get Free Report)

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

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