Dividend Aristocrats: Top 7 Companies by Yield for November 2024

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

Dividend Yield as of November 26: 4.03%

T. Rowe Price Group, Inc. (NASDAQ:TROW) ranks fifth on our list of the best dividend aristocrat stocks. The American asset management company offers a wide range of related services to individuals, institutions, and businesses. It reported mixed earnings in the third quarter of 2024. The company’s revenue came in at $1.8 billion, which, though, saw a 7% hike from the same period last year, missed analysts’ estimates by over $61 million. It ended the quarter with over $1.63 trillion in assets under management, up from $1.34 trillion in the prior-year period.

T. Rowe Price Group, Inc. (NASDAQ:TROW) has traditionally excelled in mutual funds, a product category now facing competition from ETFs and alternative assets. This trend has raised concerns among investors. However, the company benefits from loyal assets and is actively adapting to align with shifting customer preferences. This indicates that the company is positioned to navigate the evolving industry landscape effectively. With no long-term debt on its balance sheet, it has the financial strength to restructure and refine its business strategy. The stock has surged by over 14% since the start of 2024.

T. Rowe Price Group, Inc. (NASDAQ:TROW) currently offers a quarterly dividend of $1.24 per share, having raised it by 1.6% earlier this year. The company has been rewarding shareholders with growing dividends for the past 38 consecutive years. With a dividend yield of 4.03%, as of November 26, TROW is one of the best dividend aristocrat stocks on our list.

As per Insider Monkey’s database of Q3 2024, 26 hedge funds held stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), down from 28 a quarter earlier. These stakes are worth $422.6 million in total. Fisher Asset Management owned 2 million TROW shares, becoming the company’s leading stakeholder in Q3.