T. Rowe Price Group, Inc. (NASDAQ:TROW) Plans Quarterly Dividend of $1.27

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 1.27 per share by the asset manager on Friday, March 28th. This represents a $5.08 annualized dividend and a yield of 4.65%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24.

T. Rowe Price Group has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend every year for the last 18 years. T. Rowe Price Group has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect T. Rowe Price Group to earn $9.78 per share next year, which means the company should continue to be able to cover its $4.96 annual dividend with an expected future payout ratio of 50.7%.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $0.26 during trading hours on Tuesday, hitting $109.36. The stock had a trading volume of 128,226 shares, compared to its average volume of 1,538,304. The stock’s 50-day moving average price is $115.50 and its two-hundred day moving average price is $112.50. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81. The stock has a market capitalization of $24.30 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period in the previous year, the firm earned $1.72 EPS. As a group, equities research analysts predict that T. Rowe Price Group will post 9.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TROW shares. Morgan Stanley lifted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Barclays decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Evercore ISI lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $115.09.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.