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

T. Rowe Price Group (NASDAQ:TROW) posted its quarterly earnings results on Friday. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01), Briefing.com reports. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business posted $2.02 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $3.41 during trading hours on Friday, hitting $112.08. 1,972,332 shares of the stock were exchanged, compared to its average volume of 1,297,146. The stock’s 50-day moving average price is $116.47 and its two-hundred day moving average price is $114.04. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock valued at $740,408 in the last 90 days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday. UBS Group upped their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. StockNews.com raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 10th. Finally, Citigroup increased their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $113.50.

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.