T. Rowe Price Group (NASDAQ:TROW) Issues Quarterly Earnings Results

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) released its quarterly earnings data on Friday. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.21, Briefing.com reports. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company posted $2.17 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded up $2.20 during mid-day trading on Friday, reaching $112.06. The stock had a trading volume of 1,739,074 shares, compared to its average volume of 1,172,977. T. Rowe Price Group has a one year low of $90.02 and a one year high of $122.27. The firm has a 50 day moving average price of $108.32 and a two-hundred day moving average price of $111.69. The stock has a market capitalization of $24.94 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.71 and a beta of 1.41.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. T. Rowe Price Group's dividend payout ratio is 58.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TROW shares. Barclays raised their price objective on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, October 14th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $113.00.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.