T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) - Equities research analysts at Zacks Research upped their Q1 2024 earnings per share (EPS) estimates for shares of T. Rowe Price Group in a report issued on Wednesday, April 10th. Zacks Research analyst R. Department now forecasts that the asset manager will earn $1.96 per share for the quarter, up from their prior forecast of $1.79. The consensus estimate for T. Rowe Price Group's current full-year earnings is $8.06 per share. Zacks Research also issued estimates for T. Rowe Price Group's Q2 2024 earnings at $1.99 EPS, Q3 2024 earnings at $2.06 EPS, Q4 2024 earnings at $1.96 EPS, FY2024 earnings at $7.97 EPS, Q1 2025 earnings at $2.05 EPS, Q2 2025 earnings at $2.14 EPS, Q3 2025 earnings at $2.18 EPS, Q4 2025 earnings at $2.18 EPS, Q1 2026 earnings at $2.19 EPS and FY2026 earnings at $8.95 EPS.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 EPS.
TROW has been the subject of several other reports. TD Cowen upgraded T. Rowe Price Group from a "sell" rating to a "hold" rating and increased their target price for the company from $92.00 to $114.00 in a research note on Monday. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an "underweight" rating in a research report on Friday, February 9th. Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, April 5th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Finally, UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a "sell" rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $108.40.
Check Out Our Latest Research Report on TROW
T. Rowe Price Group Stock Down 2.1 %
Shares of T. Rowe Price Group stock traded down $2.53 on Friday, hitting $115.19. 1,387,532 shares of the company's stock traded hands, compared to its average volume of 1,388,660. The stock has a market cap of $25.76 billion, a P/E ratio of 14.84, a PEG ratio of 2.37 and a beta of 1.40. The firm's 50-day moving average is $114.46 and its 200 day moving average is $106.50. T. Rowe Price Group has a 52-week low of $87.43 and a 52-week high of $132.76.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. West Coast Financial LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $272,000. Central Valley Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $223,000. Unison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.7% during the 1st quarter. Unison Advisors LLC now owns 16,552 shares of the asset manager's stock worth $2,018,000 after purchasing an additional 278 shares in the last quarter. Lane & Associates LLC grew its holdings in shares of T. Rowe Price Group by 5.7% during the 1st quarter. Lane & Associates LLC now owns 2,012 shares of the asset manager's stock worth $245,000 after purchasing an additional 108 shares in the last quarter. Finally, FCF Advisors LLC grew its holdings in shares of T. Rowe Price Group by 8.8% during the 1st quarter. FCF Advisors LLC now owns 21,223 shares of the asset manager's stock worth $2,588,000 after purchasing an additional 1,715 shares in the last quarter. 73.39% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company's stock, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now directly owns 21,073 shares of the company's stock, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm's stock in a transaction that occurred on 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 directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.
T. Rowe Price Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.24 dividend. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group's dividend payout ratio is currently 63.92%.
About T. Rowe Price Group
(
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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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