5 Best Dividend Stocks for Passive Income

3. T. Rowe Price Group, Inc. (NASDAQ:TROW)

Dividend Yield as of December 1: 3.84%

T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American investment management company that offers a wide range of financial services to its consumers. The company has been raising its dividends consistently for the past 36 years, coming through as one of the best dividend stocks. It currently pays a quarterly dividend of $1.20 per share and has a dividend yield of 3.84%, as of December 1.

In October, T. Rowe Price Group, Inc. (NASDAQ:TROW) reported growth in its assets under management to $1.28 trillion, from $1.23 trillion at the end of September. During Q3 2022, it returned $500.9 million to shareholders, including $224.5 million in dividends, which makes it one of the best dividend stocks.

At the end of Q3 2022, 30 hedge funds tracked by Insider Monkey owned stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), up from 27 in the previous quarter. The collective value of these stakes is nearly $320 million. Balyasny Asset Management was the company’s largest stakeholder in Q3.