8 Best Dividend Paying Debt Free Stocks to Invest in

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

Number of Hedge Fund Holders: 26

Market Cap as of December 7: $27.51 billion 

Enterprise Value as of December 7: $24.62 billion

T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American asset management company that offers a wide range of related products and services to its consumers. The company is working to develop its own ETF business and has been expanding into other sectors with strong demand, such as alternative investments. It also has significant flexibility to make adjustments, as it carries no long-term debt on its balance sheet, which makes it one of the best debt free stocks that pay dividends. Since the start of 2024, the stock has surged by nearly 15%.

T. Rowe Price Group, Inc. (NASDAQ:TROW) reported mixed earnings for the third quarter of 2024. Its revenue reached $1.8 billion, reflecting a 7% increase compared to the same period last year, but it fell short of analysts’ estimates by more than $61 million. The company ended the quarter with assets under management totaling over $1.63 trillion, up from $1.34 trillion in the previous year.

On November 1, T. Rowe Price Group, Inc. (NASDAQ:TROW) declared a quarterly dividend of $1.24 per share, which was in line with its previous dividend. Overall, the company has raised its payouts for 38 consecutive years. As of December 7, the stock offers an attractive dividend yield of 4.01%.

Insider Monkey’s database of Q3 2024 indicated that 26 hedge funds owned stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), compared with 28 in the previous quarter. The collective value of these stakes is over $422.5 million. With nearly 2 million shares, Fisher Asset Management was the company’s leading stakeholder in Q3.