In a filing, T. Rowe Price Group Inc. revealed its Director HRABOWSKI FREEMAN A III unloaded Company’s shares for reported $1.03 million on Mar 08 ’24. In the deal valued at $118.32 per share,8,740 shares were sold. As a result of this transaction, HRABOWSKI FREEMAN A III now holds 21,073 shares worth roughly $2.49 million.
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Then, Hiebler Jessica M sold 1,138 shares, generating $121,913 in total proceeds. Upon selling the shares at $107.13, the Principal Accounting Officer now owns 14,113 shares.
Before that, Thomson Andrew Justin Mackenzi sold 11,969 shares. T. Rowe Price Group Inc. shares valued at $1,267,618 were divested by the Vice President at a price of $105.91 per share. As a result of the transaction, Thomson Andrew Justin Mackenzi now holds 123,624 shares, worth roughly $14.63 million.
Wells Fargo downgraded its T. Rowe Price Group Inc. [TROW] rating to an Underweight from a an Equal weight in a research note published on January 08, 2024; the price target was increased to $105 from $95. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early January with a ‘”an Underperform”‘ rating. Citigroup also remained covering TROW and has increased its forecast on October 31, 2023 with a “Neutral” recommendation from previously “Sell” rating. Citigroup started covering the stock on May 19, 2023. It rated TROW as “a Sell”.
Price Performance Review of TROW
On Monday, T. Rowe Price Group Inc. [NASDAQ:TROW] saw its stock fall -0.24% to $118.33. Over the last five days, the stock has gained 2.87%. T. Rowe Price Group Inc. shares have risen nearly 9.88% since the year began. Nevertheless, the stocks have risen 8.71% over the past one year. While a 52-week high of $132.76 was reached on 03/21/24, a 52-week low of $87.43 was recorded on 02/13/24. SMA at 50 days reached $111.92, while 200 days put it at $108.00. A total of 0.81 million shares were traded, compared to the trading of 0.73 million shares in the previous session.
Levels Of Support And Resistance For TROW Stock
The 24-hour chart illustrates a support level at 117.84, which if violated will result in even more drops to 117.35. On the upside, there is a resistance level at 119.02. A further resistance level may holdings at 119.72. The Relative Strength Index (RSI) on the 14-day chart is 61.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.02, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 39.01%. Stochastics %K at 71.82% indicates the stock is a holding.
How much short interest is there in T. Rowe Price Group Inc.?
A steep rise in short interest was recorded in T. Rowe Price Group Inc. stocks on Feb 29, 2024, dropping by -0.56 million shares to a total of 12.15 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 12.71 million shares. There was a decline of -4.61%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.34% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.48.
The most recent change occurred on December 15, 2022 when Wells Fargo began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $125 price target.
