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Taking a look at what insiders are doing to gauge the Franklin Resources, Inc. (BEN)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Franklin Resources, Inc. shares valued at $4,559,040 were purchased by JOHNSON CHARLES B on Jun 21 ’24. At $22.80 per share, JOHNSON CHARLES B acquired 200,000 shares. The insider’s holdings grew to 88,703,192 shares worth approximately $2.01 billion following the completion of this transaction.

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Also, JOHNSON CHARLES B purchased 100,000 shares, netting a total of over 2,229,000 in proceeds. Following the buying of shares at $22.29 each, the insider now holds 88,503,192 shares.

Before that, Sethi Alok had sold 22,000 shares from its account. In a trade valued at $643,845, the EVP, Head of Global Operations traded Franklin Resources, Inc. shares for $29.27 each. Upon closing the transaction, the insider’s holdings decreased to 22,000 shares, worth approximately $1.6 million.

As published in a research note from Wells Fargo on January 08, 2024, Franklin Resources, Inc. [BEN] has been rated up from an Underweight to an Equal weight and the price target has been revised to $30 from $24. Analysts at TD Cowen started covering the stock with ‘”a Market perform”‘ outlook in a report released in early January. Earlier on December 15, 2022, Wells Fargo initiated its rating. Their recommendation was “an Underweight” for BEN stock.

Analyzing BEN Stock Performance

During the last five days, there has been a drop of approximately -0.22%. Over the course of the year, Franklin Resources, Inc. shares have dropped approximately -23.97%. Shares of the company reached a 52-week high of $29.41 on 01/09/24 and a 52-week low of $21.57 on 06/14/24. A 50-day SMA is recorded $23.29, while a 200-day SMA reached $25.41. Nevertheless, trading volume fell to 1.83 million shares from 4.13 million shares the previous day.

Support And Resistance Levels for Franklin Resources, Inc. (BEN)

According to the 24-hour chart, there is a support level at 22.22, which, if violated, would cause prices to drop to 22.00. In the upper region, resistance lies at 22.66. The next price resistance is at 22.88. RSI (Relative Strength Index) is 47.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.17, which suggests the price will decrease in the coming days. Percent R is at 49.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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