In yesterday’s Wall Street session, Franklin Resources, Inc. (NYSE:BEN) shares traded at $20.87, up 2.35% from the previous session.
BEN stock price is now -3.39% away from the 50-day moving average and -16.02% away from the 200-day moving average. The market capitalization of the company currently stands at $10.92B.
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With the price target of $20, Wells Fargo recently initiated with Equal Weight rating for Franklin Resources, Inc. (NYSE: BEN). On August 27, 2024, Barclays recently initiated its ‘Underweight’ rating on the stock quoting a target price of $20, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’
In other news, JOHNSON CHARLES B, 10% Owner bought 100,000 shares of the company’s stock on Sep 11 ’24. The stock was bought for $1,907,990 at an average price of $19.08. Upon completion of the transaction, the 10% Owner now directly owns 89,308,192 shares in the company, valued at $1.86 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 29 ’24, 10% Owner JOHNSON CHARLES B bought 100,000 shares of the business’s stock. A total of $1,984,200 was incurred on buying the stock at an average price of $19.84. This leaves the insider owning 89,208,192 shares of the company worth $1.86 billion. A total of 46.36% of the company’s stock is owned by insiders.
During the past 12 months, Franklin Resources, Inc. has had a low of $18.94 and a high of $30.32. According to the stock market information, the enterprise value for the company is $13578276864, which is based on a 12.86 price-to-earnings ratio, a 2.81 price-to-earnings-growth ratio, and a beta of 1.40. The fifty day moving average price for BEN is $21.5714 and a two-hundred day moving average price translates $24.826 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.
