Equities research analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to post $1.45 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for T. Rowe Price Group’s earnings. The highest sales estimate is $1.46 billion and the lowest is $1.44 billion. T. Rowe Price Group posted sales of $1.39 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The company is expected to issue its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that T. Rowe Price Group will report full-year sales of $5.63 billion for the current year, with estimates ranging from $5.61 billion to $5.67 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.00 billion, with estimates ranging from $5.87 billion to $6.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.15. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 earnings per share.
In other news, VP Christopher D. Alderson sold 36,898 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $114.41, for a total value of $4,221,500.18. Following the sale, the vice president now owns 414,144 shares in the company, valued at $47,382,215.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary K. Bush sold 3,500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $107.06, for a total transaction of $374,710.00. Following the completion of the sale, the director now owns 19,243 shares in the company, valued at approximately $2,060,155.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,791 shares of company stock worth $6,829,702. 3.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in TROW. Comerica Securities Inc. boosted its stake in T. Rowe Price Group by 2.7% during the fourth quarter. Comerica Securities Inc. now owns 7,947 shares of the asset manager’s stock worth $734,000 after buying an additional 208 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,354,386 shares of the asset manager’s stock worth $125,035,000 after buying an additional 74,561 shares in the last quarter. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,439,749 shares of the asset manager’s stock worth $317,047,000 after buying an additional 76,186 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in T. Rowe Price Group during the fourth quarter worth $296,000. Finally, Thrivent Financial for Lutherans boosted its stake in T. Rowe Price Group by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,583 shares of the asset manager’s stock worth $977,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 69.23% of the company’s stock.
TROW traded down $3.13 during midday trading on Friday, hitting $110.26. 685,757 shares of the company’s stock traded hands, compared to its average volume of 989,640. The stock has a market capitalization of $27.08 billion, a P/E ratio of 15.42, a PEG ratio of 1.73 and a beta of 1.07. The company’s fifty day moving average price is $109.55. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. T. Rowe Price Group has a one year low of $84.59 and a one year high of $120.75.
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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