Research Analysts Issue Forecasts for T. Rowe Price Group, Inc.’s FY2022 Earnings (NASDAQ:TROW)

T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) – Stock analysts at Jefferies Financial Group issued their FY2022 earnings per share (EPS) estimates for T. Rowe Price Group in a research report issued to clients and investors on Tuesday, January 10th. Jefferies Financial Group analyst D. Fannon forecasts that the asset manager will earn $8.03 per share for the year. The consensus estimate for T. Rowe Price Group’s current full-year earnings is $7.91 per share. Jefferies Financial Group also issued estimates for T. Rowe Price Group’s Q4 2022 earnings at $1.73 EPS, Q2 2023 earnings at $1.81 EPS, Q3 2023 earnings at $1.87 EPS and Q4 2023 earnings at $1.90 EPS.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its earnings results on Thursday, October 27th. The asset manager reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. T. Rowe Price Group had a return on equity of 23.88% and a net margin of 29.35%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 earnings per share.

A number of other equities analysts also recently issued reports on TROW. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 6th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $97.00 to $123.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. StockNews.com assumed coverage on T. Rowe Price Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $84.00 to $96.00 and gave the stock a “sell” rating in a report on Wednesday, November 23rd. Finally, Credit Suisse Group began coverage on T. Rowe Price Group in a research note on Wednesday, October 19th. They issued an “underperform” rating and a $70.00 target price on the stock. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.70.

T. Rowe Price Group Trading Down 0.9 %

TROW opened at $118.51 on Friday. The stock has a fifty day simple moving average of $117.53 and a two-hundred day simple moving average of $116.11. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. T. Rowe Price Group has a 12-month low of $93.53 and a 12-month high of $176.43.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Friday, December 16th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $4.80 annualized dividend and a dividend yield of 4.05%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.11%.

Insider Activity at T. Rowe Price Group

In related news, insider William J. Stromberg sold 10,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the sale, the insider now directly owns 41,000 shares of the company’s stock, valued at $5,090,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, VP Robert C.T. Higginbotham sold 6,619 shares of the firm’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $120.48, for a total value of $797,457.12. Following the transaction, the vice president now directly owns 70,465 shares of the company’s stock, valued at $8,489,623.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Stromberg sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $124.15, for a total value of $1,241,500.00. Following the completion of the transaction, the insider now directly owns 41,000 shares in the company, valued at $5,090,150. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Zullo Investment Group Inc. boosted its position in T. Rowe Price Group by 164.6% in the third quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock worth $27,000 after purchasing an additional 158 shares during the last quarter. Oakworth Capital Inc. bought a new position in shares of T. Rowe Price Group in the third quarter worth about $28,000. Eisler Capital UK Ltd. bought a new position in shares of T. Rowe Price Group in the third quarter worth about $29,000. Artemis Wealth Advisors LLC raised its stake in shares of T. Rowe Price Group by 39.7% in the second quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager’s stock worth $33,000 after buying an additional 83 shares during the period. Finally, Core Alternative Capital raised its stake in shares of T. Rowe Price Group by 167.7% in the second quarter. Core Alternative Capital now owns 332 shares of the asset manager’s stock worth $38,000 after buying an additional 208 shares during the period. 76.58% of the stock is owned by hedge funds and other institutional investors.

About T. Rowe Price Group

(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.