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

T. Rowe Price Group, Inc. (NASDAQ:TROW) declared a quarterly dividend on Thursday, August 6th. Stockholders 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 dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

T. Rowe Price Group has raised its dividend payment 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. Analysts expect T. Rowe Price Group to earn $10.16 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 51.2%.

T. Rowe Price Group Price Performance

TROW stock opened at $106.29 on Friday. The business has a 50 day simple moving average of $113.83 and a 200-day simple moving average of $104.36. The firm has a market capitalization of $22.67 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 3.52 and a beta of 1.46. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.24 earnings per share. On average, equities research analysts expect that T. Rowe Price Group will post 10.16 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 in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.