Q4 2024 Earnings Forecast for T. Rowe Price Group, Inc. Issued By Zacks Research (NASDAQ:TROW)

T. Rowe Price Group, Inc. (NASDAQ:TROW) – Research analysts at Zacks Research raised their Q4 2024 EPS estimates for T. Rowe Price Group in a report released on Friday, July 12th. Zacks Research analyst R. Department now expects that the asset manager will post earnings per share of $2.04 for the quarter, up from their previous forecast of $2.03. The consensus estimate for T. Rowe Price Group’s current full-year earnings is $8.96 per share. Zacks Research also issued estimates for T. Rowe Price Group’s Q1 2025 earnings at $2.15 EPS, Q3 2025 earnings at $2.18 EPS, Q4 2025 earnings at $2.23 EPS, FY2025 earnings at $8.68 EPS and FY2026 earnings at $9.33 EPS.

Several other research firms have also recently commented on TROW. TD Cowen lifted their price target on T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Evercore ISI decreased their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a research report on Friday, July 12th. Morgan Stanley increased their price objective on shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.10.

T. Rowe Price Group Trading Up 1.7 %

NASDAQ:TROW opened at $120.75 on Monday. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market capitalization of $26.96 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.42. The firm has a 50-day moving average price of $116.17 and a two-hundred day moving average price of $113.65.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $1.69 earnings per share. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis.

Hedge Funds Weigh In On T. Rowe Price Group

Several large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its stake in shares of T. Rowe Price Group by 4.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,958 shares of the asset manager’s stock valued at $415,000 after buying an additional 151 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of T. Rowe Price Group by 311.9% in the third quarter. Sunbelt Securities Inc. now owns 1,590 shares of the asset manager’s stock worth $167,000 after buying an additional 1,204 shares in the last quarter. Elevated Capital Advisors LLC grew its position in T. Rowe Price Group by 19.9% during the fourth quarter. Elevated Capital Advisors LLC now owns 6,077 shares of the asset manager’s stock worth $654,000 after buying an additional 1,007 shares in the last quarter. Capstone Triton Financial Group LLC raised its holdings in shares of T. Rowe Price Group by 4.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 3,313 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 144 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.