LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors has a free review on T. Rowe Price Group, Inc. (NASDAQ: TROW) following the Company's announcement that it will begin trading ex-dividend on December 13, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on December 12, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on TROW:
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Dividend Declared
On October 25, 2017, T. Rowe Price announced that its Board of Directors has declared a quarterly dividend of $0.57 per share payable December 28, 2017, to stockholders of record as of the close of business on December 14, 2017.
T. Rowe Price' indicated dividend represents a yield of 2.22% compared to the average dividend yield of 3.69% for the Financial sector. The Company has raised dividend for more than thirty years.
Dividend Insights
T. Rowe Price has a dividend payout ratio of 43.1%, which means that the Company spends approximately $0.43 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, T. Rowe Price is forecasted to report earnings of $5.84 per share for the next year, which is more than double compared to the Company's annualized dividend of $2.28 per share.
As of September 30, 2017, T. Rowe Price's cash and cash equivalents totaled $1.87 billion compared to $$1.20 billion as on December 31, 2016. For the nine months ended September 30, 2017, cash provided by operating activities totaled $1.46 billion compared to $1.24 billion in the year ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for T. Rowe Price
On November 10, 2017, T. Rowe Price reported preliminary month-end assets under management of $971 billion as of October 31, 2017. The Company reported that Client transfers from mutual funds to other portfolios were $2.5 billion for the month-ended October 31, 2017.
About T. Rowe Price Group, Inc.
Founded in 1937, Baltimore-based T. Rowe Price is a global investment management organization that provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools.
Stock Performance Snapshot
December 11, 2017 - At Monday's closing bell, T. Rowe Price's stock slightly declined 0.88%, ending the trading session at $101.85.
Volume traded for the day: 1.21 million shares.
Stock performance in the last month - up 9.85%; previous three-month period - up 20.02%; past twelve-month period - up 32.96%; and year-to-date - up 35.33%
After yesterday's close, T. Rowe Price's market cap was at $24.45 billion.
Price to Earnings (P/E) ratio was at 16.67.
The stock has a dividend yield of 2.24%.
The stock is part of the Financial sector, categorized under the Asset Management industry. This sector was flat at the end of the session.
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