Brokerages Expect T. Rowe Price Group, Inc. (NASDAQ:TROW) Will Post Quarterly Sales of $1.79 Billion


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Wall Street brokerages expect that T. Rowe Price Group, Inc. (NASDAQ:TROW) will announce sales of $1.79 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for T. Rowe Price Group’s earnings. The lowest sales estimate is $1.78 billion and the highest is $1.81 billion. T. Rowe Price Group posted sales of $1.46 billion during the same quarter last year, which suggests a positive year over year growth rate of 22.6%. The company is scheduled to announce its next quarterly earnings report on Tuesday, April 27th.

On average, analysts expect that T. Rowe Price Group will report full year sales of $7.36 billion for the current financial year, with estimates ranging from $7.24 billion to $7.54 billion. For the next year, analysts forecast that the business will post sales of $7.70 billion, with estimates ranging from $7.47 billion to $8.11 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, January 28th. The asset manager reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.21. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.69 billion. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. T. Rowe Price Group’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share.

TROW has been the topic of several research reports. Credit Suisse Group lifted their price objective on shares of T. Rowe Price Group from $171.00 to $179.00 and gave the company an “outperform” rating in a report on Friday, January 29th. Barclays raised their price target on shares of T. Rowe Price Group from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Monday, January 25th. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Friday, January 29th. The Goldman Sachs Group upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $134.00 to $170.00 in a report on Tuesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $145.00 to $150.00 in a report on Wednesday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $151.33.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 8,100 shares of the company’s stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $149.64, for a total value of $1,212,084.00. Following the sale, the vice president now directly owns 336,256 shares in the company, valued at $50,317,347.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D. Alderson sold 2,043 shares of the business’s stock in a transaction that occurred on Thursday, December 10th. The stock was sold at an average price of $149.07, for a total value of $304,550.01. Following the completion of the transaction, the vice president now directly owns 332,256 shares in the company, valued at $49,529,401.92. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in shares of T. Rowe Price Group by 154.1% in the fourth quarter. First Trust Advisors LP now owns 1,392,316 shares of the asset manager’s stock valued at $210,783,000 after buying an additional 844,376 shares during the last quarter. Janus Henderson Group PLC boosted its stake in T. Rowe Price Group by 87.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,561,519 shares of the asset manager’s stock valued at $236,395,000 after buying an additional 730,695 shares in the last quarter. BlackRock Inc. boosted its stake in shares of T. Rowe Price Group by 3.0% during the third quarter. BlackRock Inc. now owns 19,129,315 shares of the asset manager’s stock valued at $2,452,763,000 after purchasing an additional 563,135 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of T. Rowe Price Group during the third quarter valued at about $66,353,000. Finally, Sprucegrove Investment Management Ltd. raised its position in shares of T. Rowe Price Group by 110.5% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 761,500 shares of the asset manager’s stock worth $115,283,000 after acquiring an additional 399,800 shares during the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.

TROW traded down $1.44 on Thursday, reaching $160.53. 29,167 shares of the company traded hands, compared to its average volume of 1,162,275. The company has a market cap of $36.59 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The firm has a fifty day simple moving average of $158.44 and a two-hundred day simple moving average of $144.13. T. Rowe Price Group has a one year low of $82.51 and a one year high of $169.00.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th will be issued a dividend of $1.08 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.90. The ex-dividend date is Monday, March 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.69%. T. Rowe Price Group’s payout ratio is currently 44.61%.

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.

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