The price of Franklin Resources, Inc. (NYSE:BEN) shares last traded on Wall Street fell -0.04% to $24.55.
Based on available information, 14 analysts follow Franklin Resources, Inc. (NYSE:BEN). The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $26.00 and a low of $21.00, we find $23.25. Given the previous closing price of $24.56, this indicates a potential downside of -5.33 percent. BEN stock price is now 2.30% away from the 50-day moving average and -7.24% away from the 200-day moving average. The market capitalization of the company currently stands at $12.25B.
Among analysts, 7 rate the stock a hold while 0 rate it a buy. Brokers who have rated the stock have averaged $23.21 as their price target over the next twelve months.
In other news, Byerwalter Mariann H, Director sold 6,011 shares of the company’s stock on Oct 10. The stock was sold for $144,324 at an average price of $24.01. Upon completion of the transaction, the Director now directly owns 10,494 shares in the company, valued at $0.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 28, Affiliate – Investment Adviser FRANKLIN RESOURCES INC bought 2,465,483 shares of the business’s stock. A total of $25,000,000 was incurred on buying the stock at an average price of $10.14. This leaves the insider owning 4,955,483 shares of the company worth $121.66 million. Insiders disposed of 1,157,525 shares of company stock worth roughly $28.42 million over the past 1 year. A total of 42.16% of the company’s stock is owned by insiders.
A candlestick chart of Franklin Resources, Inc. (NYSE: BEN) showed a price of $24.50 on Thursday morning. During the past 12 months, Franklin Resources, Inc. has had a low of $21.88 and a high of $34.37. The fifty day moving average price for BEN is $23.97 and a two-hundred day moving average price translates $26.43 for the stock.
The latest earnings results from Franklin Resources, Inc. (NYSE: BEN) was released for Sep, 2023. The net profit margin was 10.71% and return on equity was 7.22% for BEN. The company reported revenue of $1.99 billion for the quarter, compared to $1.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.43 percent.
Franklin Resources, Inc.(BEN) Company Profile
Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Calgary, Canada; Dubai, United Arab Emirates; Edinburgh, United Kingdom; Fort Lauderdale, United States; Hyderabad, India; London, United Kingdom; Rancho Cordova, United states; Shanghai, China; Singapore; Stamford, United States; and Vienna, Austria.