T. Rowe Price Group, Inc. (TROW) To Go Ex-Dividend on March 16th

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Monday, February 9th. Investors of record on Monday, March 16th will be given a dividend of 1.30 per share by the asset manager on Monday, March 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, March 16th. This is a 2.4% increase from T. Rowe Price Group’s previous quarterly dividend of $1.27.

T. Rowe Price Group has increased its dividend by an average of 0.1%annually 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 $5.20 annual dividend with an expected future payout ratio of 54.1%.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $88.59 on Friday. The company has a market capitalization of $19.32 billion, a PE ratio of 9.58, a PEG ratio of 3.68 and a beta of 1.54. The business has a fifty day moving average price of $98.89 and a 200-day moving average price of $102.21. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal 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.