Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Franklin Resources, Inc. shares valued at $1,984,200 were purchased by JOHNSON CHARLES B on Aug 29 ’24. At $19.84 per share, JOHNSON CHARLES B acquired 100,000 shares. The insider’s holdings grew to 89,208,192 shares worth approximately $1.74 billion following the completion of this transaction.
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Also, JOHNSON JENNIFER M purchased 12,700 shares, netting a total of over 249,738 in proceeds. Following the buying of shares at $19.66 each, the insider now holds 2,637,700 shares.
Before that, JOHNSON JENNIFER M had added 18,900 shares to its account. In a trade valued at $396,021, the President and CEO bought Franklin Resources, Inc. shares for $20.95 each. Upon closing the transaction, the insider’s holdings increased to 18,900 shares, worth approximately $4.23 million.
As published in their initiating research note from Barclays on August 27, 2024, Franklin Resources, Inc. [BEN] has been an Underweight and the price target has been revised to $20. Analysts at Wells Fargo upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early January. As of January 04, 2024, TD Cowen has initiated its “Market perform” rating for BEN.
Analyzing BEN Stock Performance
During the last five days, there has been a drop of approximately -0.61%. Over the course of the year, Franklin Resources, Inc. shares have dropped approximately -34.58%. Shares of the company reached a 52-week high of $29.41 on 01/09/24 and a 52-week low of $19.30 on 09/05/24. A 50-day SMA is recorded $22.06, while a 200-day SMA reached $25.04. Nevertheless, trading volume fell to 4.54 million shares from 4.42 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 19.18, which, if violated, would cause prices to drop to 18.88. In the upper region, resistance lies at 19.91. The next price resistance is at 20.34. RSI (Relative Strength Index) is 34.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.87, which suggests the price will decrease in the coming days. Percent R is at 94.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
