Capital Research & Management Co recently announced the acquisition of new stake in Franklin Resources, Inc. (NYSE:BEN). The institutional investor has increased its shareholding in the Financial company by 0.04% to 22.61 million shares with purchase of 9626.0 shares. This fresh investment now brings its stake to 4.56% valued currently at $673.52 million. In addition, Geode Capital Management LLC raised its holdings by 0.12 million to 6.19 million shares. And Invesco Capital Management LLC has lifted its position by 6.70% or 0.37 million shares – to 5.92 million shares.
Currently, there are 495.94M common shares owned by the public and among those 254.40M shares have been available to trade.
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Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 1,169,075 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 253,717 shares.
The top 3 mutual fund holders in Franklin Resources, Inc. are American Mutual Fund, Vanguard Total Stock Market ETF, and ProShares S&P 500 Dividend Aristo. American Mutual Fund owns 17.04 million shares of the company’s stock, all valued at over $507.54 million. The company bought an additional 4.0 million shares recently to bring their total holdings to about 3.44% of the shares outstanding. Vanguard Total Stock Market ETF sold -0.81 million shares to see its total holdings shrink to 8.59 million shares valued at over $255.78 million and representing 1.73% of the shares outstanding. ProShares S&P 500 Dividend Aristo sold 2835.0 shares to bring its total holdings to over 6.97 million shares at a value of $207.6 million. ProShares S&P 500 Dividend Aristo now owns shares totaling to 1.41% of the shares outstanding.
However, the script later moved the day high at 28.43, down -3.81%. The company’s stock has a 5-day price change of -2.12% and 20.79% over the past three months. BEN shares are trading -8.53% year to date (YTD), with the 12-month market performance down to -9.29% lower. It has a 12-month low price of $21.88 and touched a high of $34.37 over the same period. BEN has an average intraday trading volume of 3.44 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.70%, 1.69%, and 4.44% respectively.
Institutional ownership of Franklin Resources, Inc. (NYSE: BEN) shares accounts for 45.40% of the company’s 495.94M shares outstanding. Mutual fund holders own 28.34%, while other institutional holders and individual stakeholders account for 46.01% and 17.29% respectively.
It has a market capitalization of $13.50B and a beta (3y monthly) value of 1.44. The stock’s trailing 12-month PE ratio is 15.83, while the earnings-per-share (ttm) stands at $1.72. The company has a PEG of 1.26 and the debt-to-equity ratio at 0.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.56% over the week and 2.01% over the month.
Analysts forecast that Franklin Resources, Inc. (BEN) will achieve an EPS of $0.57 for the current quarter, $0.61 for the next quarter and $2.89 for 2025. The lowest estimate earnings-per-share for the quarter is $0.51 while analysts give the company a high EPS estimate of $0.61. Comparatively, EPS for the current quarter was $0.51 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.80%, and 14.86% over the next financial year. EPS should grow at an annualized rate of 12.53% over the next five years, compared to 4.38% over the past 5-year period.
Looking at the support for the BEN, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on January 08, 2024, with the firm’s price target at $24-$30.
