T. Rowe Price Group, Inc. (TROW) To Go Ex-Dividend on September 15th

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Thursday, August 6th. Investors of record on Tuesday, September 15th will be given 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 of this dividend is Tuesday, September 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 every year for the last 39 years. T. Rowe Price Group has a payout ratio of 61.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect T. Rowe Price Group to earn $10.09 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 51.5%.

T. Rowe Price Group Stock Performance

TROW stock opened at $114.02 on Friday. T. Rowe Price Group has a one year low of $85.22 and a one year high of $122.00. The firm’s fifty day moving average is $112.81 and its 200 day moving average is $102.44. The firm has a market cap of $24.32 billion, a PE ratio of 11.44, a P/E/G ratio of 4.42 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm posted $2.24 EPS. T. Rowe Price Group’s revenue was up 10.7% compared to the same quarter last year. Research analysts predict that T. Rowe Price Group will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Company Profile

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.