Stocks of Franklin Resources, Inc (NYSE:BEN) traded higher last session on Wall Street, down -1.19% to $22.40.
BEN stock price is now 6.71% away from the 50-day moving average and -2.56% away from the 200-day moving average. The market capitalization of the company currently stands at $11.73B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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, FRANKLIN RESOURCES INC, Affiliate of Investment Adv sold 8,467 shares of the company’s stock on Oct 16 ’24. The stock was sold for $369,943 at an average price of $43.69. Upon completion of the transaction, the Affiliate of Investment Adv now directly owns 51,019 shares in the company, valued at $1.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 18 ’24, Affiliate of Investment Adv FRANKLIN RESOURCES INC sold 7,900 shares of the business’s stock. A total of $345,315 was realized by selling the stock at an average price of $43.71. This leaves the insider owning 36,519 shares of the company worth $0.82 million. A total of 46.50% 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 $14222755840, which is based on a 26.01 price-to-earnings ratio, a 6.73 price-to-earnings-growth ratio, and a beta of 1.42. The fifty day moving average price for BEN is $20.9558 and a two-hundred day moving average price translates $23.01215 for the stock.
The latest earnings results from Franklin Resources, Inc (NYSE: BEN) was released for 2024-09-30. The net profit margin was 5.06% and return on equity was 3.53% for BEN. The company reported revenue of $2.21 billion for the quarter, compared to $1.99 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.33 percent.
