Franklin Resources, Inc.’s recent filing unveils that its 10% Owner JOHNSON CHARLES B acquired Company’s shares for reported $1.98 million on Aug 29 ’24. In the deal valued at $19.84 per share,100,000 shares were bought. As a result of this transaction, JOHNSON CHARLES B now holds 89,208,192 shares worth roughly $1.81 billion.
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Then, JOHNSON JENNIFER M bought 12,700 shares, generating $249,738 in total proceeds. Upon buying the shares at $19.66, the President and CEO now owns 2,637,700 shares.
Before that, JOHNSON JENNIFER M bought 18,900 shares. Franklin Resources, Inc. shares valued at $396,021 were divested by the President and CEO at a price of $20.95 per share. As a result of the transaction, JOHNSON JENNIFER M now holds 216,900 shares, worth roughly $4.39 million.
Barclays initiated its Franklin Resources, Inc. [BEN] rating to an Underweight in a research note published on August 27, 2024; the price target was $20. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who increased its forecast for the stock in early January from “an Underweight” to “an Equal weight”. TD Cowen began covering BEN with “Market perform” recommendation on January 04, 2024.
Price Performance Review of BEN
On Friday, Franklin Resources, Inc. [NYSE:BEN] saw its stock jump 1.35% to $20.24. Over the last five days, the stock has lost -3.34%. Franklin Resources, Inc. shares have fallen nearly -32.06% since the year began. Nevertheless, the stocks have fallen -23.94% over the past one year. While a 52-week high of $30.32 was reached on 01/09/24, a 52-week low of $19.50 was recorded on 08/29/24. SMA at 50 days reached $22.24, while 200 days put it at $25.11.
Levels Of Support And Resistance For BEN Stock
The 24-hour chart illustrates a support level at 19.98, which if violated will result in even more drops to 19.71. On the upside, there is a resistance level at 20.41. A further resistance level may holdings at 20.57. The Relative Strength Index (RSI) on the 14-day chart is 39.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.84%. Stochastics %K at 12.78% indicates the stock is a buying.
How much short interest is there in Franklin Resources, Inc.?
A steep rise in short interest was recorded in Franklin Resources, Inc. stocks on 2024-08-15, growing by 4.48 million shares to a total of 23.48 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 19.0 million shares. There was a rise of 19.08%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on December 15, 2022 when Wells Fargo began covering the stock and recommended ‘”an Underweight”‘ rating along with a $26 price target.
