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

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of 1.30 per share by the asset manager on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

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. Analysts expect T. Rowe Price Group to earn $10.03 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 51.8%.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $0.65 during trading on Friday, reaching $114.27. 510,208 shares of the company’s stock were exchanged, compared to its average volume of 2,227,723. The stock has a market cap of $24.38 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 4.47 and a beta of 1.47. The company has a 50 day moving average price of $112.62 and a two-hundred day moving average price of $102.35. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $2.24 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group will post 10.14 EPS for the current fiscal year.

Analyst Ratings Changes

TROW has been the topic of several recent analyst reports. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research note on Friday, July 10th. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. BMO Capital Markets raised their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $105.92.

T. Rowe Price Group Company Profile

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.