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

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Thursday, May 7th. Stockholders 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) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, June 15th.

T. Rowe Price Group has increased its dividend payment 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 dividend payout ratio of 61.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NASDAQ TROW traded up $0.81 during midday trading on Friday, reaching $104.40. The stock had a trading volume of 188,233 shares, compared to its average volume of 2,271,864. The stock has a 50-day moving average of $93.48 and a 200-day moving average of $99.20. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 4.64 and a beta of 1.51. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.23 earnings per share. As a group, analysts forecast that T. Rowe Price Group will post 9.61 EPS for the current fiscal year.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth about $540,000. First Citizens Bank & Trust Co. lifted its holdings in shares of T. Rowe Price Group by 141.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock worth $18,053,000 after acquiring an additional 103,174 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of T. Rowe Price Group by 17.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after acquiring an additional 11,691 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of T. Rowe Price Group by 43.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock worth $32,021,000 after acquiring an additional 95,351 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of T. Rowe Price Group by 114.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,106 shares of the asset manager’s stock worth $2,474,000 after acquiring an additional 12,839 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.