Stocks of Franklin Resources, Inc. (NYSE:BEN) traded higher last session on Wall Street, down -1.68% to $19.84.
BEN stock price is now -10.59% away from the 50-day moving average and -20.93% away from the 200-day moving average. The market capitalization of the company currently stands at $10.38B.
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With the price target of $20, Barclays recently initiated with Underweight rating for Franklin Resources, Inc. (NYSE: BEN). On January 08, 2024, Wells Fargo Upgraded its previous ‘Underweight’ rating to ‘Equal Weight’ on the stock increasing its target price from $24 to quote $30, while ‘TD Cowen’ rates the stock as ‘Market Perform’
In other news, JOHNSON CHARLES B, 10% Owner bought 100,000 shares of the company’s stock on Aug 29 ’24. The stock was bought for $1,984,200 at an average price of $19.84. Upon completion of the transaction, the 10% Owner now directly owns 89,208,192 shares in the company, valued at $1.77 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 28 ’24, President and CEO JOHNSON JENNIFER M bought 12,700 shares of the business’s stock. A total of $249,738 was incurred on buying the stock at an average price of $19.66. This leaves the insider owning 2,637,700 shares of the company worth $52.33 million. A total of 46.38% of the company’s stock is owned by insiders.
During the past 12 months, Franklin Resources, Inc. has had a low of $19.50 and a high of $30.32. According to the stock market information, the enterprise value for the company is $13217408000, which is based on a 12.22 price-to-earnings ratio, a 2.67 price-to-earnings-growth ratio, and a beta of 1.40. The fifty day moving average price for BEN is $22.1894 and a two-hundred day moving average price translates $25.0931 for the stock.
The latest earnings results from Franklin Resources, Inc. (NYSE: BEN) was released for 2024-06-30. The net profit margin was 9.82% and return on equity was 6.52% for BEN. The company reported revenue of $2.12 billion for the quarter, compared to $1.97 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.82 percent.
