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

T. Rowe Price Group, Inc. (NASDAQ:TROW) declared a quarterly dividend on Monday, February 9th. Stockholders of record on Monday, March 16th will be given a dividend of 1.30 per share by the asset manager on Monday, March 30th. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, March 16th. This is a 2.4% increase from T. Rowe Price Group’s previous quarterly dividend of $1.27.

T. Rowe Price Group has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 39 consecutive years. T. Rowe Price Group has a payout ratio of 60.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect T. Rowe Price Group to earn $9.62 per share next year, which means the company should continue to be able to cover its $5.08 annual dividend with an expected future payout ratio of 52.8%.

T. Rowe Price Group Trading Up 1.7%

T. Rowe Price Group stock traded up $1.64 during midday trading on Tuesday, reaching $97.45. 286,691 shares of the stock traded hands, compared to its average volume of 2,062,243. The company has a 50-day simple moving average of $104.25 and a two-hundred day simple moving average of $104.34. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $118.22. The firm has a market cap of $21.27 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 4.87 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. Equities research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.