5 Undervalued Dividend Aristocrats To Buy Now

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

P/E Ratio as of January 12: 13.79

T. Rowe Price Group, Inc. (NASDAQ:TROW) is a Maryland-based investment management company that offers different related services. The company currently pays a quarterly dividend of $1.20 per share for a dividend yield of 4.02%, as of January 12. It maintains a 36-year track record of consistent dividend growth.

T. Rowe Price Group, Inc. (NASDAQ:TROW), one of the undervalued dividend aristocrats on the list, is trading at a PE multiple of 13x. At the end of Q3 2022, the company had $2.8 billion available in cash and generated $1.6 billion in revenues. It paid $832.4 million in dividends to shareholders during the first nine months of 2022.

In December, Wells Fargo initiated its coverage of T. Rowe Price Group, Inc. (NASDAQ:TROW) with an Equal Weight rating and a $125 price target, presenting a strong stance on the company’s performance.

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. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q3.