T. Rowe Price Group, Inc. (TROW) to Issue Quarterly Dividend of $1.30 on June 29th

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Thursday, May 7th. Investors of record on Monday, June 15th will be paid a dividend of 1.30 per share by the asset manager on Monday, June 29th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, June 15th.

T. Rowe Price Group has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 39 consecutive 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 $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 Price Performance

Shares of TROW stock opened at $105.33 on Friday. The business’s 50 day simple moving average is $93.48 and its 200 day simple moving average is $99.20. T. Rowe Price Group has a one year low of $85.22 and a one year high of $118.22. The stock has a market capitalization of $22.57 billion, a PE ratio of 11.29, a PEG ratio of 4.53 and a beta of 1.51.

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