T. Rowe Price Group, Inc. (TROW) To Go Ex-Dividend on March 14th

T. Rowe Price Group, Inc. (NASDAQ:TROW) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors of record on Friday, March 14th will be given 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 4.75%. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24.

T. Rowe Price Group has increased its dividend by an average of 4.7% per year over the last three years and has increased its dividend annually for the last 18 consecutive years. T. Rowe Price Group has a payout ratio of 51.5% indicating that 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 opened at $106.92 on Thursday. The company has a market cap of $23.75 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The stock’s 50 day simple moving average is $115.21 and its two-hundred day simple moving average is $112.48.

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

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TROW shares. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Evercore ISI upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.09.

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.