T. Rowe Price Group (NASDAQ:TROW – Get Free Report) posted its earnings results on Friday. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34, RTT News reports. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 EPS.
T. Rowe Price Group Trading Up 4.8 %
T. Rowe Price Group stock opened at $114.02 on Friday. The firm has a 50 day moving average of $115.10 and a 200 day moving average of $107.08. The firm has a market capitalization of $25.50 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 2.14 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.35%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.
Insider Buying and Selling
Wall Street Analyst Weigh In
TROW has been the topic of several research analyst reports. UBS Group upped their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Morgan Stanley increased 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 note on Wednesday, April 17th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, TD Cowen upgraded shares of 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 research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $112.67.
View Our Latest Research Report on T. Rowe Price Group
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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