T. Rowe Price Group (NASDAQ:TROW – Get Free Report) 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%.
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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.
View Our Latest Analysis 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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