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

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

T. Rowe Price Group has increased its dividend by an average of 0.1%per year 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 61.8% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.5%

TROW traded up $0.60 during trading on Friday, reaching $114.22. 549,707 shares of the company’s stock were exchanged, compared to its average volume of 2,227,885. The company has a market capitalization of $24.37 billion, a P/E ratio of 11.45, a PEG ratio of 4.47 and a beta of 1.47. The business has a 50 day moving average price of $112.62 and a 200 day moving average price of $102.35. T. Rowe Price Group has a fifty-two week low of $85.22 and a fifty-two week 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, topping analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.24 EPS. As a group, research analysts forecast that T. Rowe Price Group will post 10.14 EPS 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.