T. Rowe Price Group (NASDAQ:TROW) Issues Earnings Results

T. Rowe Price Group (NASDAQ:TROW) issued its quarterly earnings data on Friday. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34, RTT News reports. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm posted $1.69 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year.

T. Rowe Price Group Trading Up 4.8 %

TROW opened at $114.02 on Friday. The company has a 50 day moving average of $115.10 and a 200 day moving average of $107.07. The company has a market cap of $25.50 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $132.76.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.35%. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Analyst Ratings Changes

A number of brokerages have issued reports on TROW. Citigroup upped their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $112.67.

Insider Buying and Selling

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

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.