The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. T. Rowe Price Group Inc. shares valued at $1,034,147 were sold by HRABOWSKI FREEMAN A III on Mar 08 ’24. At $118.32 per share, HRABOWSKI FREEMAN A III sold 8,740 shares. The insider’s holdings dropped to 21,073 shares worth approximately $2.48 million following the completion of this transaction.
Also, Hiebler Jessica M sold 1,138 shares, netting a total of over 121,913 in proceeds. Following the sale of shares at $107.13 each, the insider now holds 14,113 shares.
Before that, Thomson Andrew Justin Mackenzi had sold 11,969 shares from its account. In a trade valued at $1,267,618, the Vice President traded T. Rowe Price Group Inc. shares for $105.91 each. Upon closing the transaction, the insider’s holdings decreased to 11,969 shares, worth approximately $14.55 million.
As published in a research note from Keefe Bruyette on April 11, 2024, T. Rowe Price Group Inc. [TROW] has been rated up from an Underperform to a Mkt perform and the price target has been revised to $120 from $106. Analysts at TD Cowen upgraded the stock from ‘”a Sell”‘ to ‘”a Hold”‘ outlook in a report released in early April. As of January 08, 2024, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for TROW. Earlier on January 04, 2024, TD Cowen initiated its rating. Their recommendation was “an Underperform” for TROW stock.
Analyzing TROW Stock Performance
During the last five days, there has been a surge of approximately 1.26%. Over the course of the year, T. Rowe Price Group Inc. shares have jumped approximately 9.31%. Shares of the company reached a 52-week high of $122.27 on 03/28/24 and a 52-week low of $103.40 on 02/13/24. A 50-day SMA is recorded $114.10, while a 200-day SMA reached $108.45. Nevertheless, trading volume fell to 1.56 million shares from 1.62 million shares the previous day.
Support And Resistance Levels for T. Rowe Price Group Inc. (TROW)
According to the 24-hour chart, there is a support level at 116.77, which, if violated, would cause prices to drop to 115.83. In the upper region, resistance lies at 118.41. The next price resistance is at 119.11. RSI (Relative Strength Index) is 52.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 61.57%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is T. Rowe Price Group Inc. subject to short interest?
Stocks of T. Rowe Price Group Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.79 million shares to 11.36 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 12.15 million shares. A decline of -6.95% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.39 of the overall float, the days-to-cover ratio (short ratio) decline to 8.39.
