T. Rowe Price Group, Inc. (NASDAQ:TROW) – Equities researchers at Gabelli boosted their Q3 2017 earnings per share (EPS) estimates for T. Rowe Price Group in a research report issued on Wednesday. Gabelli analyst M. Sykes now expects that the asset manager will post earnings of $1.33 per share for the quarter, up from their previous forecast of $1.27. Gabelli also issued estimates for T. Rowe Price Group’s Q4 2017 earnings at $1.30 EPS.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis.

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A number of other equities research analysts have also weighed in on the company. TheStreet raised T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. Argus lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Deutsche Bank AG reissued a “hold” rating and issued a $71.00 target price (down previously from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. Jefferies Group LLC set a $83.00 target price on T. Rowe Price Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, ValuEngine lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $77.90.

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 82.67 on Thursday. The company has a market cap of $19.95 billion, a PE ratio of 16.19 and a beta of 1.22. T. Rowe Price Group has a 1-year low of $62.97 and a 1-year high of $85.42. The company has a 50-day moving average price of $76.41 and a 200-day moving average price of $72.09.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Moreno Evelyn V raised its position in T. Rowe Price Group by 12.0% in the first quarter. Moreno Evelyn V now owns 89,305 shares of the asset manager’s stock worth $6,087,000 after buying an additional 9,545 shares during the last quarter. Rosenbaum Jay D. raised its position in T. Rowe Price Group by 6.3% in the first quarter. Rosenbaum Jay D. now owns 8,495 shares of the asset manager’s stock worth $579,000 after buying an additional 500 shares during the last quarter. Cohen Lawrence B raised its position in T. Rowe Price Group by 2.2% in the first quarter. Cohen Lawrence B now owns 31,750 shares of the asset manager’s stock worth $2,164,000 after buying an additional 680 shares during the last quarter. Liberty Capital Management Inc. raised its position in T. Rowe Price Group by 6.8% in the first quarter. Liberty Capital Management Inc. now owns 25,685 shares of the asset manager’s stock worth $1,750,000 after buying an additional 1,640 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its position in T. Rowe Price Group by 10.5% in the first quarter. Toth Financial Advisory Corp now owns 19,273 shares of the asset manager’s stock worth $1,313,000 after buying an additional 1,828 shares during the last quarter. 71.25% of the stock is 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 through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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