The stock of Franklin Resources, Inc. (NYSE:BEN) last traded at $27.63, up 4.11% from the previous session.
Data from the available sources indicates that Franklin Resources, Inc. (NYSE:BEN) is covered by 14 analysts. 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 $23.75. Given the previous closing price of $26.54, this indicates a potential downside of -10.51 percent. BEN stock price is now 16.18% away from the 50-day moving average and 6.73% away from the 200-day moving average. The market capitalization of the company currently stands at $13.67B.
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In total, 7 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $23.40 as their price target over the next twelve months.
In other news, Sethi Alok, EVP, Head of Global Operations sold 25,000 shares of the company’s stock on Dec 05. The stock was sold for $634,465 at an average price of $25.38. Upon completion of the transaction, the EVP, Head of Global Operations now directly owns 92,481 shares in the company, valued at $2.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 10, Director Byerwalter Mariann H sold 6,011 shares of the business’s stock. A total of $144,324 was realized by selling the stock at an average price of $24.01. This leaves the insider owning 10,494 shares of the company worth $0.29 million. Insiders disposed of 1,113,717 shares of company stock worth roughly $30.77 million over the past 1 year. A total of 42.51% of the company’s stock is owned by insiders.
With an opening price of $26.74 on Wednesday morning, Franklin Resources, Inc. (NYSE: BEN) set off the trading day. 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 $23.78 and a two-hundred day moving average price translates $25.89 for the stock.
The latest earnings results from Franklin Resources, Inc. (NYSE: BEN) was released for Sep, 2023. According to the Asset Management Company, earnings per share came in at $0.84, beating analysts’ expectations of $0.59 by 0.25. This compares to $0.47 EPS in the same period last year. 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. For the current quarter, analysts expect BEN to generate $1.52B in revenue.
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.
