Company Update (NASDAQ:TROW): T. Rowe Price Group Declares Quarterly Dividend

[PR Newswire] – BALTIMORE, April 27, 2016 /PRNewswire/ — T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) announced today that its Board of Directors has declared a quarterly dividend of $0.54 per share payable June 29, 2016 … Read more on this. T. Rowe Price Group, Inc. (TROW) , currently valued at $19.15B, opened this morning at $77.19. Looking at the equity, the company’s one day range is $77.13 to $77.98 with a trailing 52-week range being $63.57 to $82.87. T. Rowe Price (TROW) shares are currently priced at 16.93x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.42x earnings multiple for the same period. And for passive income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 2.78%. According to a consensus of 18 analysts, the earnings estimate of $1.13 per share would be $0.11 worse than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $4.58 which would be a $0.05 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.05 Billion. If realized, that would be a 1.87% decrease over the year-ago quarter. Recently, BofA/Merrill downgraded TROW from Buy to Neutral (Mar 15, 2016). Previously, Bernstein downgraded TROW from Outperform to Mkt Perform. When considering if perhaps the stock is under or overvalued, the average price target is $77.50, which is 0.40% above where the stock opened this morning. See more in (NASDAQ:TROW) Similar Articles: Company Update (NASDAQ:TROW): T. Rowe Price Launches Three New Quantitatively Managed Stock Funds Market Update (NASDAQ:TROW): T. Rowe Price Group Declares Quarterly Dividend Company Update: T. Rowe Price Group Inc (NASDAQ:TROW) – T. Rowe Price: Most Parents Say They Overspend On Kids’ Holiday Gifts