T. Rowe Price Group (NASDAQ:TROW) Releases Earnings Results, Beats Estimates By $0.21 EPS

T. Rowe Price Group (NASDAQ:TROW) issued its earnings results on Friday. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21, Briefing.com reports. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 earnings per share.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $112.06 on Friday. The company has a 50-day simple moving average of $108.32 and a 200-day simple moving average of $111.69. T. Rowe Price Group has a one year low of $90.02 and a one year high of $122.27. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.71 and a beta of 1.41.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. T. Rowe Price Group’s payout ratio is 58.56%.

Analyst Ratings Changes

Several equities analysts have issued reports on TROW shares. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.00.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.