This High-Yield Dividend Stock Is Swimming in Cash
With a nearly $2.6 billion cash and investments balance and no long-term debt, interest rate hikes won't hurt the asset manager T. Rowe Price Group (NASDAQ: TROW). The market downturn has caused T. Rowe Price's assets under management (AUM) to fall 11.9% year over year to $1.4 trillion as of May. Adjusted net revenue and non-GAAP (generally accepted accounting principles) diluted earnings per share (EPS) are expected to drop 5.7% and 19.6% year over year in 2022.