Zacks: Analysts Anticipate T. Rowe Price Group Inc (TROW) Will Post Quarterly Sales of $1.24 Billion
Wall Street analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to report sales of $1.24 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for T. Rowe Price Group’s earnings. The highest sales estimate is $1.25 billion and the lowest is $1.23 billion. T. Rowe Price Group reported sales of $1.33 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 6.8%. The firm is expected to report its next earnings results on Wednesday, April 24th.
On average, analysts expect that T. Rowe Price Group will report full year sales of $5.19 billion for the current fiscal year, with estimates ranging from $5.07 billion to $5.31 billion. For the next year, analysts anticipate that the firm will report sales of $5.49 billion, with estimates ranging from $5.24 billion to $5.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.25). The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.33 billion. T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. T. Rowe Price Group’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS.
In other T. Rowe Price Group news, insider Edward C. Bernard sold 10,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $97.15, for a total transaction of $971,500.00. Following the transaction, the insider now owns 651,532 shares of the company’s stock, valued at $63,296,333.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher D. Alderson sold 104,465 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total value of $10,126,837.10. Following the transaction, the vice president now directly owns 401,164 shares in the company, valued at approximately $38,888,838.16. The disclosure for this sale can be found here. Insiders have sold 117,082 shares of company stock valued at $11,361,948 over the last quarter. 3.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Oregon Public Employees Retirement Fund boosted its stake in T. Rowe Price Group by 5,160.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,804,712 shares of the asset manager’s stock worth $63,000 after buying an additional 5,694,370 shares during the last quarter. Norges Bank acquired a new position in T. Rowe Price Group during the 4th quarter worth about $216,223,000. APG Asset Management N.V. lifted its stake in T. Rowe Price Group by 112.3% during the 4th quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock worth $85,943,000 after acquiring an additional 562,900 shares in the last quarter. Check Capital Management Inc. CA acquired a new position in T. Rowe Price Group during the 4th quarter worth about $42,742,000. Finally, Vanguard Group Inc. lifted its stake in T. Rowe Price Group by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after acquiring an additional 457,683 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.
TROW opened at $100.68 on Tuesday. The stock has a market capitalization of $23.94 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. T. Rowe Price Group has a twelve month low of $84.59 and a twelve month high of $127.43.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.02%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, March 14th. T. Rowe Price Group’s payout ratio is presently 39.16%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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