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 $1,907,990 were purchased by JOHNSON CHARLES B on Sep 11 ’24. At $19.08 per share, JOHNSON CHARLES B acquired 100,000 shares. The insider’s holdings grew to 89,308,192 shares worth approximately $1.77 billion following the completion of this transaction.
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Also, JOHNSON CHARLES B purchased 100,000 shares, netting a total of over 1,984,200 in proceeds. Following the buying of shares at $19.84 each, the insider now holds 89,208,192 shares.
Before that, JOHNSON JENNIFER M had added 12,700 shares to its account. In a trade valued at $249,738, the President and CEO bought Franklin Resources, Inc. shares for $19.66 each. Upon closing the transaction, the insider’s holdings increased to 12,700 shares, worth approximately $52.41 million.
As published in their initiating research note from Wells Fargo on September 12, 2024, Franklin Resources, Inc. [BEN] has been an Equal weight and the price target has been revised to $20. Analysts at Barclays started covering the stock with ‘”an Underweight”‘ outlook in a report released in late August. As of January 08, 2024, Wells Fargo has increased its “an Underweight” rating to a “an Equal weight” for BEN. Earlier on January 04, 2024, TD Cowen initiated its rating. Their recommendation was “a Market perform” for BEN stock.
Analyzing BEN Stock Performance
During the last five days, there has been a drop of approximately -3.59%. Over the course of the year, Franklin Resources, Inc. shares have dropped approximately -33.30%. Shares of the company reached a 52-week high of $29.41 on 01/09/24 and a 52-week low of $18.94 on 09/11/24. A 50-day SMA is recorded $21.04, while a 200-day SMA reached $24.56. Nevertheless, trading volume fell to 3.2 million shares from 4.18 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 19.70, which, if violated, would cause prices to drop to 19.52. In the upper region, resistance lies at 20.04. The next price resistance is at 20.20. RSI (Relative Strength Index) is 42.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.52, which suggests the price will decrease in the coming days. Percent R is at 87.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
