Q2 2024 Earnings Forecast for T. Rowe Price Group, Inc. Issued By Zacks Research (NASDAQ:TROW)

T. Rowe Price Group, Inc. (NASDAQ:TROW) – Equities research analysts at Zacks Research raised their Q2 2024 earnings estimates for shares of T. Rowe Price Group in a report issued on Friday, May 17th. Zacks Research analyst R. Department now expects that the asset manager will post earnings per share of $2.02 for the quarter, up from their prior estimate of $1.99. The consensus estimate for T. Rowe Price Group’s current full-year earnings is $8.80 per share. Zacks Research also issued estimates for T. Rowe Price Group’s Q3 2024 earnings at $2.12 EPS, Q4 2024 earnings at $1.97 EPS, FY2024 earnings at $8.49 EPS, Q1 2025 earnings at $2.07 EPS, Q2 2025 earnings at $2.21 EPS, Q1 2026 earnings at $2.25 EPS and FY2026 earnings at $9.24 EPS.

A number of other research analysts have also recently issued reports on TROW. Evercore ISI cut their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Citigroup raised their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $116.76 on Monday. The business has a 50 day simple moving average of $114.95 and a 200 day simple moving average of $108.89. The company has a market capitalization of $26.07 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $1.69 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its holdings in shares of T. Rowe Price Group by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after acquiring an additional 86 shares during the period. ST Germain D J Co. Inc. raised its position in T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after acquiring an additional 88 shares in the last quarter. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 1.6% in the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the last quarter. Paulson Wealth Management Inc. lifted its stake in T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 95 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its position in shares of T. Rowe Price Group by 3.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is owned by institutional investors.

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.