Stock analysts at Keefe Bruyette upped their rating on shares of Franklin Resources, Inc. (NYSE:BEN) from Underperform to a new rating of Mkt Perform in their opinion released on January 31. Wells Fargo analysts have downgraded their rating of BEN shares from Equal Weight to Underweight in a separate flash note to investors on January 02.
Let’s take a glimpse at some insider activity at Franklin Resources, Inc. (NYSE:BEN) and observe the pattern. The earliest insider trade happened on 12/26/2019. JOHNSON RUPERT H JR parted with a total of 400 thousand shares of the firm at average share price of $26.26. The total amount for the sale was set at $10.5 million. On completing this exchange, the Vice Chairman, 10% Owner account balance was 103 million shares. The stock lost -0.34 percent from that insider sale. On 12/02/2019, Tyle Craig Steven, EVP & General Counsel, did a sale of 5 thousand shares at a price of $27.57 per share. This got rid of 137.85 thousand shares from the insider’s fortune and the stock experienced a -5.08 percent retreat in price since the news became public. This exchange saw 108.79 thousand shares get out from the EVP & General Counsel account. On 09/03/2019, EVP & General Counsel Tyle Craig Steven recorded a sale transaction valued at $130.05 thousand. The sale at $26.01 a share has eliminated 5 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed 0.62 percent increase since the transaction reporting date. The company insider is left with 95.01 thousand shares remaining in the account. Tyle Craig Steven, who works as EVP, Gen. Counsel & Secretary at the company, performed a sale of 10.92 thousand shares in a transaction worth $350 thousand. The disposal recorded on 06/03/2019 was priced at $32.04 per share. The stock price plunged -18.32 percent since the transaction. Tyle Craig Steven currently holds a stake of 104.24 thousand in BEN stock which is worth $2.73 million after the insider selling.
Franklin Resources, Inc. (BEN) is most likely going to rise -6.53 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $28 as 12-month high price target. This represents a whopping 6.99 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $25, which means a return possibility of -4.47 percent in comparison with the closing price of the stock of $26.17 in recent trading session. The lowest price set for the stock is $20 which is just above -23.58 percent from BEN share’s price at the end of session.
The stock is lingering around the initial support level of $25.42. After this, the following support is at the zone of $25.27. Up until the time the BEN stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 55.15 on the daily chart, and this may be a cause for concern. In case the price goes below $25.27 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $25.88 level may cause a pull-back move approaching $26.19 mark.
In the recent trading session, Franklin Resources, Inc. (NYSE:BEN) shares gained 2.31% or 0.59 points to reach at $26.17 with a thin trading volume of 1.445 million shares. It opened the trading session at $25.66, the shares rose to $26.03 and dropped to $25.57, the range by which the price of stock traded the whole session. The company now has a market cap of $13.2 billion and currently has 517.12 million outstanding shares. Franklin Resources, Inc. (BEN) stock has accumulated 1.95 percent of market value in 21 trading days.
BEN stock’s trailing 3-year beta is 1.19, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $2.35 share in the trailing 52 weeks. The stock’s value fallen -1.54 percent year to date (YTD) compared to a decline of -15.02 percent in 52 week’s period. The firm’s shares are still trading -26.94 percent below its 1-year high of $35.82 and 6.95 percent up from 52-week low of $24.47. The average consensus ranking on the company is 3.6, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a hold.
Franklin Resources, Inc. (BEN) shares are trading at a P/E ratio of 10.07 times earnings posted in the trailing 12 months. The industry BEN deals with has an average P/E of 23.42. Its P/B ratio is standing at 1.25X compared to the 6.32 industry average. It is additionally sporting a 2.23 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.73.
Past records have indicated that shares in Franklin Resources, Inc. declined on 22 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.