Blue Chip Bargain: Buy This Dividend Stock and Relax
T. Rowe Price (NASDAQ: TROW) is among the most respected name brands in the asset management business. And yet the stock is trading down nearly 50% from its 2021 highs. That's not actually all too shocking, given the company's business model, but it does offer up an interesting buying opportunity for long-term dividend investors. Here's what you need to know.
The core of T. Rowe Price's business is asset management, with the company owning one of the largest and best-known mutual fund families in the industry. It also provides some exchange-traded funds (ETFs) and manages alternative assets, both of which are seeing demand today. However, the key fact is that T. Rowe Price gets paid fees for running other people's money, which makes its assets under management (AUM) one of the most important figures you can monitor.
Image source: Getty Images.
Source Fool.com
