In yesterday’s Wall Street session, Franklin Resources, Inc. (NYSE:BEN) shares traded at $22.88, down -1.42% from the previous session.
BEN stock price is now -0.85% away from the 50-day moving average and -9.57% away from the 200-day moving average. The market capitalization of the company currently stands at $12.04B.
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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, JOHNSON CHARLES B, 10% Owner bought 200,000 shares of the company’s stock on Jun 21 ’24. The stock was bought for $4,559,040 at an average price of $22.80. Upon completion of the transaction, the 10% Owner now directly owns 88,703,192 shares in the company, valued at $2.03 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 18 ’24, 10% Owner JOHNSON CHARLES B bought 100,000 shares of the business’s stock. A total of $2,229,000 was incurred on buying the stock at an average price of $22.29. This leaves the insider owning 88,503,192 shares of the company worth $2.02 billion. A total of 45.96% of the company’s stock is owned by insiders.
During the past 12 months, Franklin Resources, Inc. has had a low of $21.57 and a high of $30.32. According to the stock market information, the enterprise value for the company is $14735468544, which is based on a 13.12 price-to-earnings ratio, a 2.69 price-to-earnings-growth ratio, and a beta of 1.45. The fifty day moving average price for BEN is $23.0586 and a two-hundred day moving average price translates $25.29545 for the stock.
The latest earnings results from Franklin Resources, Inc. (NYSE: BEN) was released for 2024-03-31. 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.
