Taking a Closer Look At Franklin Resources Inc. (BEN) Following Its Recent Trade


Franklin Resources Inc.’s recently made public that its EVP, Technology and Operations Sethi Alok unloaded Company’s shares for reported $0.92 million on Feb 01. In the deal valued at $31.09 per share,29,503 shares were sold. As a result of this transaction, Sethi Alok now holds 92,132 shares worth roughly $ 2.52 million.

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Then, FRANKLIN RESOURCES INC bought 10,134 shares, generating $42,641 in total proceeds. Upon buying the shares at $4.21, the Affiliate of Investment Adv. now owns 9,990,587 shares.

Before that, FRANKLIN RESOURCES INC bought 44,574 shares. Franklin Resources Inc. shares valued at $189,003 were divested by the Affiliate of Investment Adv. at a price of $4.24 per share. As a result of the transaction, FRANKLIN RESOURCES INC now holds 9,980,453 shares, worth roughly $272.67 million.

Wells Fargo initiated its Franklin Resources Inc. [BEN] rating to an Underweight in a research note published on Tuesday, December 15, 2022; the price target was $26. PT values the company’s stock at a premium of -5.08 to its Tuesday closing price. A number of analysts have revised their coverage, including Credit Suisse’s analysts, who began to cover the stock in mid October with a ‘”a Neutral”‘ rating. BofA Securities also remained covering BEN and has decreased its forecast on September 08, 2022 with a “an Underperform” recommendation from previously “Neutral” rating.

Price Performance Review of BEN

On Tuesday, Franklin Resources Inc. [NYSE:BEN] saw its stock jump 1.00% to $27.32. On the same session, the stock had its day’s lowest price of $26.95, but rose to a high of $27.99. Over the last five days, the stock has lost -3.29%. Franklin Resources Inc. shares have risen nearly 3.56% since the year began. Nevertheless, the stocks have risen 0.22% over the past one year. While a 52-week high of $34.37 was reached on 02/02/23, a 52-week low of $20.24 was recorded on 03/13/23. SMA at 50 days reached $29.85, while 200 days put it at $26.39. A total of 5.1 million shares were traded, compared to the trading of 8.66 million shares in the previous session.

Levels Of Support And Resistance For BEN Stock

The 24-hour chart illustrates a support level at 26.85, which if violated will result in even more drops to 26.38. On the upside, there is a resistance level at 27.89. A further resistance level may holdings at 28.46. The Relative Strength Index (RSI) on the 14-day chart is 33.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.46%. Stochastics %K at 20.99% indicates the stock is a holding.

How much short interest is there in Franklin Resources Inc.?

A steep rise in short interest was recorded in Franklin Resources Inc. stocks on Jan 30, 2023, dropping by -1.67 million shares to a total of 19.01 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 20.68 million shares. There was a decline of -8.78%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.69% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.28.

Franklin Resources Inc. [BEN] – Who Are The Largest Shareholders?

In filings from SSgA Funds Management, Inc., it is revealed that the company now owns 37,331,169 shares, or roughly 7.46% of the outstanding BEN shares. In other words, the investor’s shares have risen by 2,421,243 from its previous 13-F filing of 34909926.0. Additionally, The Vanguard Group, Inc. increased 6.85% of its stake after which the total value it holdings stand at $981,862,894, while BlackRock Fund Advisors reduced -0.29% of its stake to hold $655.53 million in the firm. Over the last quarter, Capital Research & Management Co purchased 4,091,203 shares of Franklin Resources Inc., while ProShare Advisors LLC bought 866,329 shares. At present, Clarkston Capital Partners LLC is holding 7,005,280 shares valued at $206.45 million. Invesco Capital Management LLC owned 6,352,222 shares of the company at the time of its most recent 13F filing, worth $187.2 million.


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