Capital Research & Management Co has recently announced that it has increased stake in Franklin Resources, Inc. (NYSE:BEN) by 0.04%. After grabbing 22.61 million shares, the institutional investor is now in possession of 9626.0 shares of the Financial Company. The new investment brought the stake of investor firm to 4.57% having worth around $560.7 million. Moreover, Geode Capital Management LLC increased its share by 0.12 million to have a control over 6.19 million shares. And Invesco Capital Management LLC raised its holdings to 0.37 million shares by acquiring 5.92 million shares or 1.20% of the stake.
Franklin Resources, Inc. (BEN) concluded trading on 12/21/23 at a closing price of $29.55, with 2.7 million shares of worth about $79.83 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.75% during that period and on Thursday the price saw a gain of about 1.13%. Currently the company’s common shares owned by public are about 495.94M shares, out of which, 284.10M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the BEN stock and their offered price forecasts bring an average price target of $24.52. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $30.00 and could fall to a lowest price of $21.00. The stock’s current price level is -20.51% below of average price target set by the analysts, while a dip to estimated low would result in loss of -40.71% for the stock. However, touching the estimated high of $30.00 would mean a gain of 1.5% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 29 times over the past 12 months. They bought 1,169,075 shares in 18 of the transactions. In 11 selling transactions, insiders dumped 253,717 shares.
American Mutual Fund, Vanguard Total Stock Market ETF, and ProShares S&P 500 Dividend Aristo are the top 3 mutual funds which are holding stakes in Franklin Resources, Inc. American Mutual Fund is currently holding 13.04 million shares of worth totaling $323.44 million. The company recently came selling 27143.0 shares which brought its stake up to 2.64% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 13711.0 shares, after which its hold over company’s outstanding shares expand to 1.90%, leaving 9.38 million shares with the mutual fund that have a worth of about $232.7 million. ProShares S&P 500 Dividend Aristo, after buying 7.02 million shares, have now control over 1.42% of the stake in the company. It holds 2835.0 shares of worth $174.21 million.
Franklin Resources, Inc. (NYSE: BEN) started trading at $29.49, above $0.27 from concluding price of the previous day. However, the stock later moved at a day high price of 29.60, or with a gain of 1.13%. Stock saw a price change of 0.61% in past 5 days and over the past one month there was a price change of 24.79%. Year-to-date (YTD), BEN shares are showing a performance of 12.02% which increased to 13.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $21.88 but also hit the highest price of $34.37 during that period. The average intraday trading volume for Franklin Resources, Inc. shares is 3.40 million. The stock is currently trading 12.64% above its 20-day simple moving average (SMA20), while that difference is up 21.03% for SMA50 and it goes to 14.15% higher than SMA200.
Capital Research & Management Co acquired 22.61 million shares of Franklin Resources, Inc. having value of about $560.7 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 9626.0 shares in the company valued at close to $284448.3, or have control over 0.04% stake in the company. Franklin Resources, Inc. (NYSE: BEN) currently have 495.94M outstanding shares and institutions hold larger chunk of about 45.63% of that. Holding of mutual funds in the company is about 28.37% while other institutional holders and individual stake holders have control over 46.29% and 17.50% of the stake respectively.
The stock has a current market capitalization of $14.61B and its 3Y-monthly beta is at 1.38. PE ratio of stock for trailing 12 months is 17.16, while it has posted earnings per share of $1.72 in the same period. It has a debt-to-equity ratio of 0.99. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BEN, volatility over the week remained 1.95% while standing at 2.30% over the month.
Analysts are in expectations that Franklin Resources, Inc. (BEN) stock would likely to be making an EPS of $0.54 in the current quarter, while forecast for next quarter EPS is $0.58 and it is $2.74 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.49 which is $0.62 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.51 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -9.71% while it is estimated to increase by 16.49% in next year. EPS is likely to shrink at an annualized rate of -6.50% for next 5-years, compared to annual growth of 4.38% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the Franklin Resources, Inc. (BEN)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.93. Out of those 14 Wall Street analysts, 0 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 6 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on July 10, 2023 offering a Market perform rating for the stock and assigned a target price range of between $20 and $24 to it.
