Equities research analysts forecast that T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) will post sales of $1.84 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for T. Rowe Price Group’s earnings, with the lowest sales estimate coming in at $1.76 billion and the highest estimate coming in at $1.88 billion. T. Rowe Price Group reported sales of $1.93 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.7%. The business is scheduled to issue its next earnings report on Monday, January 1st.
On average, analysts expect that T. Rowe Price Group will report full year sales of $7.46 billion for the current year, with estimates ranging from $7.13 billion to $7.65 billion. For the next financial year, analysts anticipate that the firm will post sales of $7.66 billion, with estimates ranging from $7.21 billion to $8.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The asset manager reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.14). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 EPS.
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 730 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the completion of the transaction, the insider now directly owns 13,089 shares in the company, valued at $1,636,125. The transaction was disclosed in a filing 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 modified their holdings of TROW. Norges Bank bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $387,395,000. American Century Companies Inc. grew its stake in T. Rowe Price Group by 74.6% during the first quarter. American Century Companies Inc. now owns 2,376,088 shares of the asset manager’s stock worth $359,241,000 after purchasing an additional 1,014,981 shares during the period. BlackRock Inc. grew its stake in T. Rowe Price Group by 4.8% during the first quarter. BlackRock Inc. now owns 19,713,986 shares of the asset manager’s stock worth $2,980,558,000 after purchasing an additional 904,707 shares during the period. JPMorgan Chase & Co. grew its stake in T. Rowe Price Group by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 9,442,430 shares of the asset manager’s stock worth $1,427,600,000 after purchasing an additional 900,933 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in T. Rowe Price Group by 34.7% during the first quarter. Bank of New York Mellon Corp now owns 2,847,235 shares of the asset manager’s stock worth $430,474,000 after purchasing an additional 734,155 shares during the period. Institutional investors own 71.80% of the company’s stock.
Shares of NASDAQ TROW opened at $129.89 on Monday. The firm has a market cap of $29.52 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 2.10 and a beta of 1.34. T. Rowe Price Group has a one year low of $112.65 and a one year high of $224.55. The stock’s fifty day moving average price is $135.82 and its two-hundred day moving average price is $159.92.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Wednesday, June 15th will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $4.80 annualized dividend and a yield of 3.70%. T. Rowe Price Group’s dividend payout ratio is presently 38.83%.
T. Rowe Price Group Company Profile (Get Rating)
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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