FY2017 EPS Estimates for T. Rowe Price Group Inc Boosted by Jefferies Group (TROW)

T. Rowe Price Group Inc (NASDAQ:TROW) – Equities researchers at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for T. Rowe Price Group in a research report issued on Wednesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $5.28 for the year, up from their prior forecast of $5.18. Jefferies Group has a “Buy” rating and a $104.00 price objective on the stock. Jefferies Group also issued estimates for T. Rowe Price Group’s Q4 2017 earnings at $1.37 EPS, Q1 2018 earnings at $1.59 EPS, Q2 2018 earnings at $1.79 EPS, Q3 2018 earnings at $1.86 EPS, Q4 2018 earnings at $1.86 EPS, FY2018 earnings at $7.10 EPS and FY2019 earnings at $7.67 EPS.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year.

Several other research analysts also recently commented on TROW. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Tuesday, September 26th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and lifted their target price for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Citigroup lifted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, Barclays lifted their price target on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $98.70.

T. Rowe Price Group (TROW) opened at $113.06 on Friday. T. Rowe Price Group has a one year low of $65.33 and a one year high of $113.07. The company has a market capitalization of $27,400.00, a P/E ratio of 18.50, a PEG ratio of 1.73 and a beta of 1.32.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in T. Rowe Price Group by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock valued at $1,230,159,000 after acquiring an additional 282,162 shares in the last quarter. BlackRock Inc. raised its holdings in T. Rowe Price Group by 0.4% in the 2nd quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock valued at $1,220,017,000 after acquiring an additional 61,269 shares in the last quarter. State Street Corp raised its holdings in T. Rowe Price Group by 1.9% in the 2nd quarter. State Street Corp now owns 14,511,636 shares of the asset manager’s stock valued at $1,076,913,000 after acquiring an additional 273,036 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in T. Rowe Price Group by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock valued at $1,079,267,000 after acquiring an additional 218,211 shares in the last quarter. Finally, Capital World Investors raised its holdings in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock valued at $780,113,000 after acquiring an additional 7,373,953 shares in the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 15,082 shares of T. Rowe Price Group stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $99.44, for a total value of $1,499,754.08. Following the completion of the transaction, the chief financial officer now directly owns 110,182 shares of the company’s stock, valued at approximately $10,956,498.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William J. Stromberg sold 30,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the completion of the transaction, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,980 shares of company stock valued at $20,776,729. 3.60% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 2.02%. T. Rowe Price Group’s payout ratio is currently 37.32%.

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T. Rowe Price Group Company Profile

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.

Earnings History and Estimates for T. Rowe Price Group (NASDAQ:TROW)

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