T. Rowe Price Group, Inc. (TROW) Forecasted to Post FY2018 Earnings of $5.68 Per Share

T. Rowe Price Group, Inc. (NASDAQ:TROW) – Equities researchers at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for T. Rowe Price Group in a research note issued on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will post earnings of $5.68 per share for the year, up from their prior estimate of $5.60. Jefferies Group has a “Buy” rating and a $83.00 price objective on the stock.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.02. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. T. Rowe Price Group had a return on equity of 24.24% and a net margin of 29.59%. T. Rowe Price Group’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS.

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

A number of other brokerages have also recently issued reports on TROW. BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Morgan Stanley reissued an “underweight” rating and set a $67.00 target price (up previously from $64.00) on shares of T. Rowe Price Group in a report on Friday, March 17th. ValuEngine cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $71.00 target price (down previously from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.18.

Shares of T. Rowe Price Group (TROW) traded down 0.69% during trading on Monday, hitting $73.52. The stock had a trading volume of 145,110 shares. T. Rowe Price Group has a 52 week low of $62.97 and a 52 week high of $78.95. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 14.40 and a beta of 1.27. The company’s 50 day moving average price is $71.52 and its 200 day moving average price is $71.81.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock worth $107,000 after buying an additional 23 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in T. Rowe Price Group during the fourth quarter worth approximately $123,000. Mosaic Family Wealth LLC boosted its position in T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP purchased a new position in T. Rowe Price Group during the first quarter worth approximately $147,000. Finally, Duncker Streett & Co. Inc. boosted its position in T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock worth $168,000 after buying an additional 906 shares in the last quarter. 70.65% of the stock is currently owned by hedge funds and other institutional investors.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 3.08%. T. Rowe Price Group’s payout ratio is currently 44.88%.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:TROW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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