T. Rowe Price Group Inc. (NASDAQ:TROW) – Jefferies Group boosted their Q3 2016 earnings per share estimates for shares of T. Rowe Price Group in a note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings of $1.19 per share for the quarter, up from their prior estimate of $1.17. Jefferies Group has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for T. Rowe Price Group’s Q4 2016 earnings at $1.23 EPS.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG reissued a “buy” rating on shares of T. Rowe Price Group in a research note on Sunday, July 10th. Barclays PLC cut their target price on T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 27th. Morgan Stanley cut their target price on T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Finally, Citigroup Inc. cut their target price on T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $75.43.

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

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 65.67 on Thursday. The firm has a market cap of $16.32 billion, a P/E ratio of 15.82 and a beta of 1.17. The company has a 50-day moving average of $67.36 and a 200 day moving average of $71.77. T. Rowe Price Group has a 52-week low of $63.57 and a 52-week high of $79.00.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock valued at $119,000 after buying an additional 42 shares in the last quarter. Euclid Advisors LLC purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $123,000. Societe Generale purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $126,000. WFG Advisors LP raised its position in T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock valued at $136,000 after buying an additional 340 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock valued at $143,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 69.64% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.16 annualized dividend and a dividend yield of 3.29%. T. Rowe Price Group’s dividend payout ratio is currently 52.17%.

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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