Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Franklin Resources, Inc. shares valued at $336,163 were sold by FRANKLIN RESOURCES INC on Oct 14 ’24. At $43.90 per share, FRANKLIN RESOURCES INC sold 7,657 shares. The insider’s holdings dropped to 65,862 shares worth approximately $1.35 million following the completion of this transaction.
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Also, FRANKLIN RESOURCES INC sold 6,376 shares, netting a total of over 276,874 in proceeds. Following the sale of shares at $43.42 each, the insider now holds 59,486 shares.
Before that, JOHNSON CHARLES B had added 100,000 shares to its account. In a trade valued at $1,907,990, the 10% Owner bought Franklin Resources, Inc. shares for $19.08 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $1.83 billion.
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 surge of approximately 4.74%. Over the course of the year, Franklin Resources, Inc. shares have dropped approximately -31.05%. 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 $20.52, while a 200-day SMA reached $24.08. Nevertheless, trading volume fell to 2.4 million shares from 3.39 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 20.39, which, if violated, would cause prices to drop to 20.25. In the upper region, resistance lies at 20.66. The next price resistance is at 20.79. RSI (Relative Strength Index) is 54.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.32, which suggests the price will decrease in the coming days. Percent R is at 29.41%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
