T. Rowe Price Group Inc. (NASDAQ:TROW) – Investment analysts at Gabelli dropped their FY2020 earnings per share (EPS) estimates for shares of T. Rowe Price Group in a research report issued to clients and investors on Wednesday. Gabelli analyst M. Sykes now expects that the firm will earn $6.85 per share for the year, down from their prior estimate of $7.00.

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

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

Several other research analysts have also recently commented on the company. Jefferies Group reduced their target price on T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank AG restated a “buy” rating on shares of T. Rowe Price Group in a report on Sunday, July 10th. Barclays PLC reduced their target price on T. Rowe Price Group from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 24th. Morgan Stanley reduced 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 report on Thursday, July 28th. Finally, Zacks Investment Research upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Two 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 company’s stock. T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $75.43.

Shares of T. Rowe Price Group (NASDAQ:TROW) traded up 0.35% during mid-day trading on Thursday, hitting $65.90. 1,256,763 shares of the company were exchanged. The stock has a market cap of $16.38 billion, a PE ratio of 15.88 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 stock’s 50-day moving average price is $67.28 and its 200 day moving average price is $71.72.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.54 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $2.16 dividend on an annualized basis and a yield of 3.28%. T. Rowe Price Group’s payout ratio is presently 52.17%.

Several large investors have recently modified their holdings of TROW. Bank of Montreal Can bought a new stake in shares of T. Rowe Price Group during the second quarter valued at $68,389,000. Capital World Investors boosted its stake in shares of T. Rowe Price Group by 159.5% in the second quarter. Capital World Investors now owns 960,000 shares of the company’s stock valued at $70,051,000 after buying an additional 590,000 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of T. Rowe Price Group by 2,238.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 497,216 shares of the company’s stock valued at $36,284,000 after buying an additional 475,950 shares during the last quarter. Junto Capital Management LP bought a new stake in shares of T. Rowe Price Group during the first quarter valued at $27,768,000. Finally, Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 2.2% in the second quarter. Vanguard Group Inc. now owns 16,984,709 shares of the company’s stock valued at $1,239,376,000 after buying an additional 362,416 shares during the last quarter. 69.64% of the stock is owned by institutional investors.

About T. Rowe Price Group

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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