Price (T.) Rowe Group (TROW) Declares $1.22 Dividend

Price (T.) Rowe Group said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $1.22 per share ($4.88 annualized). Previously, the company paid $1.22 per share.

Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 29, 2023.

At the current share price of $105.84 / share, the stock's dividend yield is 4.61%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.95%, the lowest has been 1.94%, and the highest has been 4.67%. The standard deviation of yields is 0.72 (n=237).

The current dividend yield is 2.31 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.78. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.36%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1798 funds or institutions reporting positions in Price (T.) Rowe Group. This is an increase of 36 owner(s) or 2.04% in the last quarter. Average portfolio weight of all funds dedicated to TROW is 0.36%, an increase of 11.68%. Total shares owned by institutions decreased in the last three months by 0.09% to 195,201K shares. The put/call ratio of TROW is 1.24, indicating a bearish outlook.

Analyst Price Forecast Suggests 11.96% Downside

As of May 11, 2023, the average one-year price target for Price (T.) Rowe Group is 93.19. The forecasts range from a low of 68.68 to a high of $113.40. The average price target represents a decrease of 11.96% from its latest reported closing price of 105.84.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Price (T.) Rowe Group is 6,228MM, an increase of 1.05%. The projected annual non-GAAP EPS is 7.33.

What are Other Shareholders Doing?

Fayez Sarofim holds 7,564K shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 7,838K shares, representing a decrease of 3.63%. The firm increased its portfolio allocation in TROW by 93,752.66% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,790K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 6,719K shares, representing an increase of 1.03%. The firm decreased its portfolio allocation in TROW by 3.09% over the last quarter.

Jpmorgan Chase holds 5,635K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 7,309K shares, representing a decrease of 29.70%. The firm decreased its portfolio allocation in TROW by 90.85% over the last quarter.

Geode Capital Management holds 5,438K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 5,406K shares, representing an increase of 0.60%. The firm decreased its portfolio allocation in TROW by 3.39% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,204K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 2,610K shares, representing an increase of 49.85%. The firm increased its portfolio allocation in TROW by 90.23% over the last quarter.

T. Rowe Price Group Background Information
(This description is provided by the company.)

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $1.46 trillion in assets under management as of January 31, 2021. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

This story originally appeared on Fintel.