Zacks Research Analysts Boost Earnings Estimates for TROW

T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) - Analysts at Zacks Research raised their Q1 2027 earnings estimates for T. Rowe Price Group in a research report issued on Tuesday, June 10th. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings per share of $2.23 for the quarter, up from their previous estimate of $2.22. The consensus estimate for T. Rowe Price Group's current full-year earnings is $9.29 per share.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. T. Rowe Price Group's quarterly revenue was up .8% compared to the same quarter last year.

A number of other equities analysts also recently commented on the stock. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Barclays lifted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Citigroup dropped their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Trading Down 0.5%

TROW stock traded down $0.52 during trading on Thursday, reaching $94.58. 1,248,524 shares of the stock were exchanged, compared to its average volume of 1,506,430. The business has a 50 day moving average price of $91.17 and a 200-day moving average price of $103.01. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 2.86 and a beta of 1.49.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently bought and sold shares of the company. Strs Ohio purchased a new position in T. Rowe Price Group during the 1st quarter worth $1,759,000. Ellsworth Advisors LLC raised its position in T. Rowe Price Group by 6.6% during the 1st quarter. Ellsworth Advisors LLC now owns 44,771 shares of the asset manager's stock worth $4,113,000 after buying an additional 2,785 shares during the last quarter. Jacobi Capital Management LLC raised its position in T. Rowe Price Group by 37.0% during the 1st quarter. Jacobi Capital Management LLC now owns 4,025 shares of the asset manager's stock worth $370,000 after buying an additional 1,087 shares during the last quarter. Belpointe Asset Management LLC raised its position in T. Rowe Price Group by 18.9% during the 1st quarter. Belpointe Asset Management LLC now owns 3,931 shares of the asset manager's stock worth $361,000 after buying an additional 626 shares during the last quarter. Finally, Focus Partners Wealth raised its position in T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock worth $1,199,000 after buying an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president now owns 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,923 shares of company stock worth $646,856. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.37%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

About T. Rowe Price Group

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.