# T. Rowe Price Group, Inc. (TROW)

> Source: Nexqual · https://nexqual.com/TROW · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, T. Rowe Price Group, Inc. (TROW), nexqual.com/TROW" · informational, not investment advice.

**Price:** USD 103.45 (+0.15% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 103.45 · day 102.48–104.27 · 52w 85.22–122 · market cap null · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.59B, net income $2.22B (29.3% margin), free cash flow $1.67B (SEC filings).
- 3 of 80 tracked superinvestors hold TROW (13F, Q2 2026): 0 new, 0 added, 1 reduced, 2 unchanged.
- Analysts: Sell (mean 3.50 on a 1–5 scale) (14 analysts), mean target USD 106.08 (range 90–116).
- Total return with dividends: 1Y +6.3% vs S&P 500 +14.9%; 5Y -37.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 2.65, revenue estimate $1.98B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.67B | $6.49B | $6.46B | $7.09B | $7.31B | $7.59B |
| Operating income | $3.71B | $2.37B | $1.99B | $2.33B | $2.19B | $2.34B |
| Net income | $3.08B | $1.56B | $1.79B | $2.10B | $2.09B | $2.22B |
| EPS (diluted) | $13.12 | $6.70 | $7.76 | $9.15 | $9.24 | — |
| Free cash flow | $3.21B | $2.12B | $911M | $1.26B | $1.48B | $1.67B |
| Operating margin | 48.4% | 36.6% | 30.7% | 32.9% | 29.9% | 30.8% |
| Net margin | 40.2% | 24.0% | 27.7% | 29.6% | 28.5% | 29.3% |
| Revenue growth | +23.6% | -15.4% | -0.4% | +9.8% | +3.1% | — |
| Cash + short-term investments | $1.52B | $1.76B | $2.07B | $2.65B | $3.38B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 10.8x, Dec 2024 12.0x, Dec 2023 13.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold TROW. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Hillman Capital | Hillman Capital Management | 0.30% | $410K | Reduced -86.1% |
| Thomas Gayner | Markel Group | 0.27% | $35.7M | Unchanged |
| Jensen Investment Management |  | 0.09% | $3.6M | Unchanged |

## Analysts
Consensus Sell (mean 3.50 on a 1–5 scale), 14 analysts; mean target USD 106.08 (low 90, high 116).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Barclays | Target lowered | Underweight | $103 → $102 |
| 2026-10-13 | JP Morgan | Target lowered | Underweight | $107 → $106 |
| 2026-10-13 | BMO Capital | Target lowered | Market Perform | $120 → $110 |
| 2026-10-12 | TD Cowen | Target lowered | Hold | $110 → $109 |
| 2026-10-09 | Evercore ISI Group | Target lowered | In-Line | $113 → $109 |
| 2026-09-25 | Morgan Stanley | Target lowered | Equal-Weight | $116 → $110 |
| 2026-09-09 | Evercore ISI Group | Target lowered | In-Line | $118 → $113 |
| 2026-08-31 | TD Cowen | Target raised | Hold | $108 → $110 |
| 2026-08-10 | Evercore ISI Group | Target raised | In-Line | $117 → $118 |
| 2026-08-03 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $120 → $115 |
| 2026-08-03 | TD Cowen | Target raised | Hold | $107 → $108 |
| 2026-08-03 | Evercore ISI Group | Target lowered | In-Line | $121 → $117 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +6.3% | -37.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.3% | -8.9% |
| Volatility (annualized) | 23.8% | 30.0% |
| Max drawdown | -19.8% (Jan 2026→Mar 2026) | -56.7% (Nov 2021→Oct 2023) |

## Peers (Asset Management)
PFG (Principal Financial Group Inc) USD 110.11 +1.54% · PS (Pershing Square Inc.) USD 45.04 -3.72% · TPG (TPG Inc.) USD 46.17 +4.74% · RJF (Raymond James Financial, Inc.) USD 159.19 +2.25% · BEN (Franklin Templeton, Inc.) USD 31.52 -0.51% · NTRS (Northern Trust Corporation) USD 165.82 -0.65%

## More
Full page: https://nexqual.com/TROW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.65 | $2.68 | -1.3% | $1.98B | 13 |
| Next quarter (ends 2026-12-31) | $2.44 | $2.51 | -3.0% | $1.97B | 10 |
| Current fiscal year (ends 2026-12-31) | $10.17 | $10.17 | +0.1% | $7.74B | 14 |
| Next fiscal year (ends 2027-12-31) | $10.21 | $10.38 | -1.6% | $7.86B | 14 |