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

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Thursday, May 7th. Shareholders of record on Monday, June 15th will be given a dividend of 1.30 per share by the asset manager on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Monday, June 15th.

T. Rowe Price Group has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 39 years. T. Rowe Price Group has a dividend payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect T. Rowe Price Group to earn $9.57 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 54.3%.

T. Rowe Price Group Stock Down 0.9%

T. Rowe Price Group stock opened at $102.68 on Friday. The business has a fifty day moving average of $93.48 and a two-hundred day moving average of $99.20. The firm has a market cap of $22.00 billion, a P/E ratio of 11.00, a P/E/G ratio of 4.64 and a beta of 1.51. T. Rowe Price Group has a twelve month low of $85.22 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.23 earnings per share. Equities analysts expect that T. Rowe Price Group will post 9.61 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.