Franklin Resources, Inc.’s recently made public that its 10% Owner JOHNSON CHARLES B acquired Company’s shares for reported $4.56 million on Jun 21 ’24. In the deal valued at $22.80 per share,200,000 shares were bought. As a result of this transaction, JOHNSON CHARLES B now holds 88,703,192 shares worth roughly $2.02 billion.
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Then, JOHNSON CHARLES B bought 100,000 shares, generating $2,229,000 in total proceeds. Upon buying the shares at $22.29, the 10% Owner now owns 88,503,192 shares.
Before that, Sethi Alok sold 22,000 shares. Franklin Resources, Inc. shares valued at $643,845 were divested by the EVP, Head of Global Operations at a price of $29.27 per share. As a result of the transaction, Sethi Alok now holds 70,481 shares, worth roughly $1.6 million.
Wells Fargo upgraded its Franklin Resources, Inc. [BEN] rating to an Equal weight from a an Underweight in a research note published on January 08, 2024; the price target was increased to $30 from $24. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early January with a ‘”a Market perform”‘ rating. Wells Fargo started covering the stock on December 15, 2022. It rated BEN as “an Underweight”.
Price Performance Review of BEN
On Monday, Franklin Resources, Inc. [NYSE:BEN] saw its stock fall -0.13% to $22.73. Over the last five days, the stock has gained 5.67%. Franklin Resources, Inc. shares have fallen nearly -23.70% since the year began. Nevertheless, the stocks have fallen -13.44% over the past one year. While a 52-week high of $30.32 was reached on 01/09/24, a 52-week low of $20.92 was recorded on 08/05/24. SMA at 50 days reached $22.58, while 200 days put it at $25.24.
Levels Of Support And Resistance For BEN Stock
The 24-hour chart illustrates a support level at 22.60, which if violated will result in even more drops to 22.46. On the upside, there is a resistance level at 22.85. A further resistance level may holdings at 22.97. The Relative Strength Index (RSI) on the 14-day chart is 53.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 18.83%. Stochastics%K at 77.13% 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 2024-07-31, growing by 3.4 million shares to a total of 21.82 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 18.41 million shares. There was a rise of 15.6%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 19, 2022 when Credit Suisse began covering the stock and recommended ‘”a Neutral”‘ rating along with a $21 price target.
