T. Rowe Price's (NASDAQ: TROW) stock fell sharply over the past year, dropping more than 25%. Since dividend yield and price move in opposite directions, this is the reason the asset manager's dividend yield is so high today, sitting at around 4%. But that's too simple an explanation, and it doesn't really help explain why this pullback could actually be offering long-term investors an enticing investment opportunity. 

T. Rowe Price is an asset manager, which means it manages money on behalf of its customers. Generally speaking, it charges fees for this service. So the total value of the investments it manages, known as assets under management (AUM), is a huge determinant of how much it earns. As AUM goes up, T. Rowe Price earns more; as AUM goes down, it earns less. It's a fairly simple relationship.

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Source Fool.com