T. Rowe Price Group, Inc. (NASDAQ:TROW) – Gabelli increased their FY2016 earnings per share estimates for T. Rowe Price Group in a research report issued on Tuesday. Gabelli analyst M. Sykes now expects that the brokerage will post earnings per share of $4.37 for the year, up from their prior estimate of $4.07. Gabelli also issued estimates for T. Rowe Price Group’s Q4 2016 earnings at $1.46 EPS.

TROW has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Friday, October 7th. Citigroup Inc. restated a “neutral” rating on shares of T. Rowe Price Group in a research note on Sunday, October 30th. Jefferies Group lowered their target price on shares of T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 11th. UBS AG upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $66.00 to $82.00 in a research note on Thursday, November 10th. Finally, Barclays PLC lowered their target price on shares of T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $74.54.

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

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T. Rowe Price Group (NASDAQ:TROW) opened at 73.68 on Thursday. The stock’s 50 day moving average price is $75.76 and its 200-day moving average price is $70.48. T. Rowe Price Group has a 52 week low of $62.97 and a 52 week high of $79.00. The company has a market capitalization of $17.94 billion, a PE ratio of 16.62 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. T. Rowe Price Group had a net margin of 26.71% and a return on equity of 24.78%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $1.06 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year.

Institutional investors have recently modified their holdings of the company. PGGM Investments increased its position in shares of T. Rowe Price Group by 28.2% in the second quarter. PGGM Investments now owns 412,364 shares of the company’s stock worth $30,090,000 after buying an additional 90,730 shares in the last quarter. HL Financial Services LLC increased its position in shares of T. Rowe Price Group by 6.8% in the second quarter. HL Financial Services LLC now owns 13,166 shares of the company’s stock worth $961,000 after buying an additional 840 shares in the last quarter. Grimes & Company Inc. bought a new position in shares of T. Rowe Price Group during the second quarter worth approximately $2,234,000. JFS Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 3,324.7% in the second quarter. JFS Wealth Advisors LLC now owns 3,185 shares of the company’s stock worth $232,000 after buying an additional 3,092 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of T. Rowe Price Group during the second quarter worth approximately $68,389,000. Institutional investors and hedge funds own 69.74% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “FY2016 Earnings Forecast for T. Rowe Price Group, Inc. Issued By Gabelli (TROW)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright law. The legal version of this piece of content can be read at http://www.watchlistnews.com/fy2016-earnings-forecast-for-t-rowe-price-group-inc-issued-by-gabelli-trow/1061143.html.

In related news, VP Edward A. Wiese sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $76.12, for a total transaction of $228,360.00. Following the transaction, the vice president now directly owns 150,898 shares in the company, valued at approximately $11,486,355.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D. Alderson sold 4,512 shares of the company’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $76.72, for a total transaction of $346,160.64. Following the completion of the transaction, the vice president now owns 111,707 shares in the company, valued at $8,570,161.04. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 15th were issued a dividend of $0.54 per share. The ex-dividend date was Tuesday, December 13th. This represents a $2.16 annualized dividend and a yield of 2.93%. T. Rowe Price Group’s payout ratio is 49.54%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

5 Day Chart for NASDAQ:TROW

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