T. Rowe Price Group, Inc. (NASDAQ:TROW) – Jefferies Financial Group issued their Q1 2021 earnings per share estimates for shares of T. Rowe Price Group in a report released on Monday, April 12th. Jefferies Financial Group analyst D. Fannon forecasts that the asset manager will earn $2.89 per share for the quarter. Jefferies Financial Group also issued estimates for T. Rowe Price Group’s FY2021 earnings at $12.76 EPS.
Other equities research analysts have also issued reports about the company. Barclays raised their price objective on T. Rowe Price Group from $145.00 to $150.00 and gave the stock an “underweight” rating in a research note on Monday, January 25th. Credit Suisse Group cut shares of T. Rowe Price Group from an “outperform” rating to a “neutral” rating and increased their target price for the company from $179.00 to $181.00 in a research note on Tuesday, March 30th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on T. Rowe Price Group from $169.00 to $181.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut T. Rowe Price Group from a “neutral” rating to a “sell” rating and set a $157.00 price target on the stock. in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $158.50.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, January 28th. The asset manager reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.21. T. Rowe Price Group had a return on equity of 30.52% and a net margin of 35.92%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. bought a new position in shares of T. Rowe Price Group in the fourth quarter worth $25,000. CVA Family Office LLC purchased a new position in T. Rowe Price Group in the 1st quarter worth $27,000. Ellevest Inc. lifted its stake in T. Rowe Price Group by 435.0% in the fourth quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Peconic Partners LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $35,000. Finally, Bogart Wealth LLC grew its stake in shares of T. Rowe Price Group by 260.0% during the first quarter. Bogart Wealth LLC now owns 216 shares of the asset manager’s stock valued at $37,000 after buying an additional 156 shares during the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO William J. Stromberg sold 9,000 shares of T. Rowe Price Group stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $173.78, for a total value of $1,564,020.00. Also, President W. Sharps Robert sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $176.75, for a total transaction of $1,060,500.00. Following the sale, the president now owns 472,138 shares in the company, valued at $83,450,391.50. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Shareholders of record on Tuesday, March 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, March 15th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.90. T. Rowe Price Group’s payout ratio is 53.53%.
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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