T. Rowe Price Group, Inc. (NASDAQ:TROW) Raises Dividend to $1.27 Per Share

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders 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 4.66%. 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% 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% indicating that its dividend is sufficiently covered by earnings. Research 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

TROW traded down $0.59 during trading on Tuesday, hitting $109.03. 1,040,987 shares of the stock traded hands, compared to its average volume of 1,573,199. The business has a 50 day moving average price of $115.50 and a 200 day moving average price of $112.50. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data 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 last year, the business earned $1.72 earnings per share. On average, equities research analysts predict that T. Rowe Price Group will post 9.36 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TROW. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a report on Monday, November 11th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Barclays reduced their price target on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their target price on shares of 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. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $115.09.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction 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. This represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

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.