T. Rowe Price Group Inc. (NASDAQ:TROW) – Stock analysts at Gabelli raised their Q3 2016 earnings estimates for shares of T. Rowe Price Group in a research note issued to investors on Wednesday. Gabelli analyst M. Sykes now expects that the brokerage will earn $1.19 per share for the quarter, up from their prior forecast of $1.12. Gabelli also issued estimates for T. Rowe Price Group’s Q4 2016 earnings at $1.17 EPS, FY2016 earnings at $4.69 EPS, FY2017 earnings at $5.00 EPS and FY2018 earnings at $5.60 EPS.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The firm earned $1,000 million during the quarter, compared to analysts’ expectations of $1.03 billion. T. Rowe Price Group had a return on equity of 22.25% and a net margin of 25.77%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share.

Earnings History and Estimates for T. Rowe Price Group (NASDAQ:TROW)

Other equities analysts have also recently issued research reports about the company. Deutsche Bank AG reiterated a “buy” rating on shares of T. Rowe Price Group in a report on Sunday, July 10th. Barclays PLC reduced their price objective on shares of T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 9th. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating for the company in a research note on Wednesday, July 27th. Morgan Stanley reduced their price objective on shares of T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Finally, Citigroup Inc. reduced their price objective on shares of T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $75.43.

T. Rowe Price Group (NASDAQ:TROW) traded up 0.11% during mid-day trading on Friday, reaching $65.74. The company had a trading volume of 460,841 shares. The firm’s 50-day moving average price is $67.36 and its 200-day moving average price is $71.77. The stock has a market cap of $16.34 billion, a PE ratio of 15.84 and a beta of 1.17. T. Rowe Price Group has a 12 month low of $63.57 and a 12 month high of $79.00.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.16 dividend on an annualized basis and a yield of 3.29%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.17%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Thomaspartners Inc. boosted its position in shares of T. Rowe Price Group by 8.9% in the first quarter. Thomaspartners Inc. now owns 1,479,858 shares of the company’s stock worth $108,710,000 after buying an additional 120,678 shares during the period. Mariner Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 40.9% in the first quarter. Mariner Wealth Advisors LLC now owns 4,674 shares of the company’s stock worth $343,000 after buying an additional 1,357 shares during the period. Ironwood Investment Counsel LLC boosted its position in shares of T. Rowe Price Group by 2.4% in the first quarter. Ironwood Investment Counsel LLC now owns 8,223 shares of the company’s stock worth $604,000 after buying an additional 189 shares during the period. Geode Capital Management LLC boosted its position in shares of T. Rowe Price Group by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,340,140 shares of the company’s stock worth $171,607,000 after buying an additional 56,299 shares during the period. Finally, Fairfield Bush & CO. boosted its position in shares of T. Rowe Price Group by 7.9% in the first quarter. Fairfield Bush & CO. now owns 3,430 shares of the company’s stock worth $252,000 after buying an additional 250 shares during the period. 69.64% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

5 Day Chart for NASDAQ:TROW

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