Stocks of Franklin Resources, Inc. (NYSE:BEN) traded higher last session on Wall Street, down -2.31% to $22.84.
BEN stock price is now -14.70% away from the 50-day moving average and -13.44% away from the 200-day moving average. The market capitalization of the company currently stands at $12.03B.
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With the price target enhanced from $24 to $30, Wells Fargo Upgraded its rating from Underweight to Equal Weight for Franklin Resources, Inc. (NYSE: BEN). On January 04, 2024, TD Cowen recently initiated its ‘Market Perform’ rating on the stock quoting a target price of $32, while ‘BMO Capital Markets’ rates the stock as ‘Market Perform’
In other news, Sethi Alok, EVP, Head of Global Operations sold 22,000 shares of the company’s stock on Dec 14 ’23. The stock was sold for $643,845 at an average price of $29.27. Upon completion of the transaction, the EVP, Head of Global Operations now directly owns 70,481 shares in the company, valued at $1.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05 ’23, EVP, Head of Global Operations Sethi Alok sold 25,000 shares of the business’s stock. A total of $634,465 was realized by selling the stock at an average price of $25.38. This leaves the insider owning 92,481 shares of the company worth $2.11 million. A total of 45.78% of the company’s stock is owned by insiders.
During the past 12 months, Franklin Resources, Inc. has had a low of $21.88 and a high of $30.32.
According to the Asset Management Company, earnings per share came in at 0.63, beating analysts’ expectations of 0.6 by 0.03. This compares to $0.38 EPS in the same period last year. The net profit margin was 10.58% and return on equity was 6.97% for BEN. The company reported revenue of $2.15 billion for the quarter, compared to $1.93 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.71 percent. For the current quarter, analysts expect BEN to generate $1.69B in revenue.
