Brokerages Anticipate T. Rowe Price Group, Inc. (NASDAQ:TROW) Will Post Quarterly Sales of $1.93 Billion

Equities analysts expect T. Rowe Price Group, Inc. (NASDAQ:TROW) to announce $1.93 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for T. Rowe Price Group’s earnings, with estimates ranging from $1.92 billion to $1.94 billion. T. Rowe Price Group posted sales of $1.73 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The firm is expected to report its next quarterly earnings results on Thursday, January 27th.

On average, 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 year, analysts anticipate that the firm will report sales of $8.08 billion, with estimates ranging from $7.76 billion to $8.51 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover T. Rowe Price Group.

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

Several analysts have recently weighed in on TROW shares. BMO Capital Markets increased their price target on shares of T. Rowe Price Group from $234.00 to $253.00 and gave the company a “market perform” rating in a research note on Friday, October 29th. They noted that the move was a valuation call. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $206.00 price objective for the company. in a research report on Friday, October 8th. Evercore ISI reaffirmed 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. Morgan Stanley increased 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. Finally, Jefferies Financial Group started 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 for the company. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $191.79.

In other news, VP Sebastien Page sold 7,667 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 35,235 shares in the company, valued at approximately $7,785,173.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Trust Co. raised its holdings in shares of T. Rowe Price Group by 15.0% in the 3rd quarter. Cambridge Trust Co. now owns 3,288 shares of the asset manager’s stock valued at $647,000 after purchasing an additional 428 shares in the last quarter. Unified Trust Company N.A. raised its stake in T. Rowe Price Group by 0.5% during the 3rd quarter. Unified Trust Company N.A. now owns 23,463 shares of the asset manager’s stock worth $4,615,000 after acquiring an additional 127 shares in the last quarter. CFS Investment Advisory Services LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $2,850,000. Wealthsource Partners LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $251,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $1,173,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

T. Rowe Price Group stock opened at $207.70 on Friday. The firm has a 50 day simple moving average of $207.00 and a 200-day simple moving average of $204.80. T. Rowe Price Group has a 1-year low of $142.16 and a 1-year high of $224.55. The stock has a market cap of $46.68 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth 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. Stockholders of record on Thursday, December 16th will be issued a $1.08 dividend. The ex-dividend date of this dividend 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 payout ratio is 32.55%.

T. Rowe Price Group Company Profile

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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