T. Rowe Price Group (NASDAQ:TROW) Releases Earnings Results, Beats Expectations By $0.10 EPS

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

T. Rowe Price Group Price Performance

NASDAQ:TROW traded up $3.53 during trading hours on Friday, reaching $91.65. The company had a trading volume of 3,660,376 shares, compared to its average volume of 1,470,785. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The business's 50 day moving average price is $91.81 and its 200-day moving average price is $106.96. The firm has a market cap of $20.37 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.54%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Analysts Set New Price Targets

Several equities analysts have issued reports on TROW shares. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays lowered their price target on T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $96.00.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

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.