T. Rowe Price Group Inc (NASDAQ:TROW) – William Blair reduced their FY2019 earnings estimates for T. Rowe Price Group in a note issued to investors on Monday. William Blair analyst C. Shutler now anticipates that the asset manager will post earnings of $6.87 per share for the year, down from their prior forecast of $7.09.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis.
Shares of T. Rowe Price Group (NASDAQ:TROW) traded up $0.55 during trading hours on Tuesday, reaching $117.64. 653,533 shares of the company’s stock traded hands, compared to its average volume of 1,713,787. T. Rowe Price Group has a 1 year low of $66.70 and a 1 year high of $120.07. The company has a market capitalization of $28,840.00, a P/E ratio of 18.85, a PEG ratio of 1.33 and a beta of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 2.38%. T. Rowe Price Group’s dividend payout ratio is currently 36.42%.
In related news, Director Freeman A. Hrabowski III sold 4,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $101.59, for a total transaction of $406,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edward A. Wiese sold 30,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $102.14, for a total transaction of $3,064,200.00. The disclosure for this sale can be found here. Insiders have sold 133,671 shares of company stock valued at $13,771,356 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. KCM Investment Advisors LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth $309,000. Xact Kapitalforvaltning AB boosted its holdings in T. Rowe Price Group by 7.5% during the fourth quarter. Xact Kapitalforvaltning AB now owns 107,532 shares of the asset manager’s stock worth $11,283,000 after purchasing an additional 7,525 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in T. Rowe Price Group by 4.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 53,167 shares of the asset manager’s stock worth $5,577,000 after purchasing an additional 2,274 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in T. Rowe Price Group by 41.3% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 15,400 shares of the asset manager’s stock worth $1,616,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in T. Rowe Price Group by 8.4% during the fourth quarter. Sterling Capital Management LLC now owns 780,315 shares of the asset manager’s stock worth $81,878,000 after purchasing an additional 60,624 shares during the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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