T. Rowe Price Group (TROW) Scheduled to Post Earnings on Friday

T. Rowe Price Group (NASDAQ:TROW) will release its earnings data before the market opens on Friday, April 26th. Analysts expect T. Rowe Price Group to post earnings of $1.96 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts expect T. Rowe Price Group to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $108.72 on Friday. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76. The stock has a market capitalization of $24.31 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.16 and a beta of 1.40. The stock has a 50 day moving average price of $114.67 and a 200 day moving average price of $106.71.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s payout ratio is presently 63.92%.

Analyst Ratings Changes

Several brokerages recently commented on TROW. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $112.67.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TROW. Vanguard Group Inc. grew its stake in T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after buying an additional 625,340 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,729,424 shares of the asset manager’s stock worth $563,852,000 after buying an additional 273,205 shares during the last quarter. Morgan Stanley grew its stake in T. Rowe Price Group by 15.0% during the 4th quarter. Morgan Stanley now owns 3,342,735 shares of the asset manager’s stock worth $364,559,000 after buying an additional 436,365 shares during the last quarter. Legal & General Group Plc grew its stake in T. Rowe Price Group by 7.7% during the 4th quarter. Legal & General Group Plc now owns 2,084,705 shares of the asset manager’s stock worth $224,502,000 after buying an additional 149,194 shares during the last quarter. Finally, Norges Bank purchased a new position in T. Rowe Price Group during the 4th quarter worth approximately $208,014,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.