T. Rowe Price Group (NASDAQ:TROW – Get Free Report) issued its quarterly earnings data on Friday. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34, RTT News reports. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis.
T. Rowe Price Group Stock Performance
Shares of NASDAQ:TROW traded up $5.66 on Friday, hitting $114.49. 1,835,052 shares of the company’s stock were exchanged, compared to its average volume of 1,428,724. The firm’s 50-day moving average is $115.00 and its 200 day moving average is $107.00. The company has a market capitalization of $25.60 billion, a PE ratio of 14.02, a P/E/G ratio of 2.08 and a beta of 1.40. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $132.76.
T. Rowe Price Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 63.92%.
Insider Transactions at T. Rowe Price Group
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on TROW shares. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $106.00 to $120.00 in a report on Thursday, April 11th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $112.67.
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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