T. Rowe Price Group Inc.’s recent filing unveils that 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 $2.48 million.
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 $14.53 million.
TD Cowen upgraded its T. Rowe Price Group Inc. [TROW] rating to a Hold from a a Sell in a research note published on April 08, 2024; the price target was increased to $114 from $92. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early January from “an Equal weight” to “an Underweight”. TD Cowen began covering TROW with “an Underperform” recommendation on January 04, 2024. Citigroup revised its rating on October 31, 2023. It rated TROW as “a Neutral” which previously was an “a Sell”.
Price Performance Review of TROW
On Monday, T. Rowe Price Group Inc. [NASDAQ:TROW] saw its stock jump 0.78% to $117.55. Over the last five days, the stock has lost -2.29%. T. Rowe Price Group Inc. shares have risen nearly 9.16% since the year began. Nevertheless, the stocks have risen 7.26% over the past one year. While a 52-week high of $132.76 was reached on 03/28/24, a 52-week low of $87.43 was recorded on 02/13/24. SMA at 50 days reached $113.69, while 200 days put it at $108.28. A total of 0.96 million shares were traded, compared to the trading of 0.32 million shares in the previous session.
Levels Of Support And Resistance For TROW Stock
The 24-hour chart illustrates a support level at 116.81, which if violated will result in even more drops to 116.08. On the upside, there is a resistance level at 118.88. A further resistance level may holdings at 120.22. The Relative Strength Index (RSI) on the 14-day chart is 52.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.63%. Stochastics %K at 35.83% 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 Mar 15, 2024, dropping by -0.6 million shares to a total of 11.93 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 12.53 million shares. There was a decline of -5.03%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.18% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.57.
The most recent change occurred on May 19, 2023 when Citigroup began covering the stock and recommended ‘”a Sell”‘ rating along with a $98 price target.
