T. Rowe Price Group, Inc. (TROW) to Issue Quarterly Dividend of $1.27 on March 28th

T. Rowe Price Group, Inc. (NASDAQ:TROW) declared a quarterly dividend on Tuesday, February 11th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 1.27 per share by the asset manager on Friday, March 28th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, March 14th. This is a 2.4% increase from T. Rowe Price Group’s previous quarterly dividend of $1.24.

T. Rowe Price Group has increased its dividend by an average of 4.7% per year 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 53.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NASDAQ TROW opened at $96.30 on Wednesday. The business’s fifty day moving average is $109.53 and its 200-day moving average is $111.97. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group has a one year low of $95.98 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the business posted $1.72 earnings per share. Research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays cut their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.