T. Rowe Price Group (TROW) Set to Announce Quarterly Earnings on Friday

T. Rowe Price Group (NASDAQ:TROW) is scheduled to post its quarterly earnings results before the market opens on Friday, April 26th. Analysts expect T. Rowe Price Group to post earnings of $1.96 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business posted $1.74 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts expect T. Rowe Price Group to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

T. Rowe Price Group Stock Down 0.8 %

Shares of NASDAQ:TROW opened at $111.06 on Thursday. The stock has a market cap of $24.84 billion, a PE ratio of 14.31, a PEG ratio of 2.09 and a beta of 1.40. The company’s fifty day moving average is $114.98 and its 200 day moving average is $106.98. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.47%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is currently 63.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group upped their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Finally, Morgan Stanley boosted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $112.67.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.