T. Rowe Price Group, Inc. (TROW) To Go Ex-Dividend on September 13th

T. Rowe Price Group, Inc. (NASDAQ:TROW) announced a quarterly dividend on Tuesday, July 30th, RTT News reports. Shareholders of record on Friday, September 13th will be paid a dividend of 1.24 per share by the asset manager on Friday, September 27th. This represents a $4.96 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, September 13th.

T. Rowe Price Group has raised its dividend payment by an average of 10.7% per year over the last three years and has raised its dividend annually for the last 38 consecutive years. T. Rowe Price Group has a dividend payout ratio of 55.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect T. Rowe Price Group to earn $9.10 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 54.5%.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $103.74 on Wednesday. The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.62 and a beta of 1.41. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $122.27. The business’s fifty day moving average price is $110.25 and its 200-day moving average price is $113.65.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the company posted $2.02 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group will post 9 EPS for the current year.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Evercore ISI decreased their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a report on Thursday, September 5th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $113.20.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Insiders sold 15,370 shares of company stock valued at $1,627,078 in the last 90 days. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company Profile

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.