T. Rowe Price Group, Inc. (NASDAQ:TROW) Announces Quarterly Dividend of $1.30

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Wednesday, December 16th will be paid a dividend of $1.30 per share by the asset manager on Tuesday, December 29th. This represents a $5.20 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, December 16th.

T. Rowe Price Group has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 39 years. T. Rowe Price Group has a payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect T. Rowe Price Group to earn $10.10 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 51.5%.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $112.57 on Thursday. T. Rowe Price Group has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The company has a 50 day simple moving average of $105.41 and a two-hundred day simple moving average of $103.74. The company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 4.07 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 EPS for the quarter, beating the consensus estimate of $2.63 by $0.23. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. T. Rowe Price Group’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.81 EPS. On average, analysts forecast that T. Rowe Price Group will post 10.29 earnings per share for the current fiscal year.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.