Equities research analysts expect that T. Rowe Price Group Inc (NASDAQ:TROW) will report sales of $1.29 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for T. Rowe Price Group’s earnings. The highest sales estimate is $1.31 billion and the lowest is $1.28 billion. T. Rowe Price Group posted sales of $1.11 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The firm is expected to announce its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that T. Rowe Price Group will report full-year sales of $1.29 billion for the current year, with estimates ranging from $5.03 billion to $5.41 billion. For the next fiscal year, analysts expect that the business will report sales of $5.49 billion per share, with estimates ranging from $5.10 billion to $5.70 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS.

TROW has been the subject of a number of recent research reports. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub cut T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Bank of America upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Wednesday, December 27th. Finally, Citigroup lifted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $98.70.

T. Rowe Price Group (NASDAQ:TROW) traded up $1.42 during trading on Wednesday, reaching $103.41. The company had a trading volume of 3,628,839 shares, compared to its average volume of 1,936,243. The stock has a market cap of $24,713.20, a PE ratio of 17.32, a PEG ratio of 1.30 and a beta of 1.28. T. Rowe Price Group has a 1 year low of $66.70 and a 1 year high of $120.07.

In related news, CEO William J. Stromberg sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the transaction, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at approximately $51,853,535.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth V. Moreland sold 14,419 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total value of $1,399,652.33. Following the transaction, the chief financial officer now directly owns 125,264 shares in the company, valued at $12,159,376.48. The disclosure for this sale can be found here. Insiders have sold a total of 204,980 shares of company stock valued at $20,776,729 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $118,000. Grove Bank & Trust lifted its position in T. Rowe Price Group by 178.7% during the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after acquiring an additional 840 shares in the last quarter. Quadrant Capital Group LLC lifted its position in T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after acquiring an additional 89 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in T. Rowe Price Group by 50.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after acquiring an additional 491 shares in the last quarter. Finally, Stewart & Patten Co. LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $201,000. 72.30% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “T. Rowe Price Group Inc (TROW) Expected to Announce Quarterly Sales of $1.29 Billion” was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://theolympiareport.com/2018/02/10/t-rowe-price-group-inc-trow-expected-to-announce-quarterly-sales-of-1-29-billion.html.

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.

Get a free copy of the Zacks research report on T. Rowe Price Group (TROW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.