T. Rowe Price Group Inc. (NASDAQ:TROW) – Investment analysts at Gabelli increased their Q4 2016 earnings estimates for T. Rowe Price Group in a research note issued to investors on Wednesday. Gabelli analyst M. Sykes now expects that the firm will post earnings of $1.16 per share for the quarter, up from their prior forecast of $1.13.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Friday, October 7th. Barclays PLC decreased their target price 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. Citigroup Inc. reiterated a “neutral” rating on shares of T. Rowe Price Group in a research note on Sunday, October 30th. Jefferies Group decreased their target price on shares of T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” 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 assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $75.00.

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

Shares of T. Rowe Price Group (NASDAQ:TROW) traded up 0.676% on Friday, hitting $73.675. The stock had a trading volume of 665,204 shares. The stock has a market cap of $17.93 billion, a PE ratio of 16.623 and a beta of 1.21. T. Rowe Price Group has a one year low of $62.97 and a one year high of $79.00. The company’s 50 day moving average is $66.67 and its 200 day moving average is $70.29.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.18 by $0.01. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The firm earned $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be given a dividend of $0.54 per share. The ex-dividend date is Tuesday, December 13th. This represents a $2.16 dividend on an annualized basis and a yield of 2.95%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 49.54%.

Hedge funds have recently made changes to their positions in the company. Fenimore Asset Management Inc. raised its stake in shares of T. Rowe Price Group by 11.0% in the third quarter. Fenimore Asset Management Inc. now owns 491,250 shares of the company’s stock worth $32,668,000 after buying an additional 48,575 shares during the period. Legal & General Group Plc raised its stake in shares of T. Rowe Price Group by 2.4% in the first quarter. Legal & General Group Plc now owns 1,050,614 shares of the company’s stock worth $77,179,000 after buying an additional 25,005 shares during the period. Schroder Investment Management Group raised its stake in shares of T. Rowe Price Group by 28.6% in the second quarter. Schroder Investment Management Group now owns 1,023,736 shares of the company’s stock worth $74,702,000 after buying an additional 227,458 shares during the period. Dean Investment Associates LLC raised its stake in shares of T. Rowe Price Group by 94.3% in the second quarter. Dean Investment Associates LLC now owns 17,555 shares of the company’s stock worth $1,281,000 after buying an additional 8,521 shares during the period. Finally, BlackRock Advisors LLC raised its stake in shares of T. Rowe Price Group by 1.9% in the second quarter. BlackRock Advisors LLC now owns 247,307 shares of the company’s stock worth $18,046,000 after buying an additional 4,571 shares during the period. Hedge funds and other institutional investors own 71.70% of the company’s stock.

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.

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