Franklin Resources, Inc. [NYSE: BEN] stock went on a downward path that fall over -4.50% on Wednesday, amounting to a one-week price decrease of less than -4.36%. The company report on April 9, 2024 at 8:32 PM that Franklin Resources, Inc. Announces Month-End Assets Under Management.
Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management (AUM) of $1.64 trillion at March 31, 2024, compared to $1.62 trillion at February 29, 2024. This month’s increase in AUM reflected the impact of positive markets and long-term net inflows inclusive of $8.1 billion related to Great-West Lifeco.
For the quarter ended March 31, 2024, AUM reflected the positive impact of markets and long-term net inflows of $6.9 billion inclusive of $13.6 billion related to Great-West Lifeco, partially offset by a fixed income institutional client redemption of $2.0 billion.
Over the last 12 months, BEN stock dropped by -1.16%. The one-year Franklin Resources, Inc. stock forecast points to a potential upside of 4.5. The average equity rating for BEN stock is currently 3.79, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $13.85 billion, with 495.94 million shares outstanding and 285.48 million shares in the current float. Compared to the average trading volume of 3.38M shares, BEN stock reached a trading volume of 3512534 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Franklin Resources, Inc. [BEN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEN shares is $27.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEN stock is a recommendation set at 3.79. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Franklin Resources, Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 08, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price to Market Perform. The new note on the price target was released on January 04, 2024, representing the official price target for Franklin Resources, Inc. stock. Previously, the target price had yet another raise from $20 to $24, while BMO Capital Markets kept a Market Perform rating on BEN stock.
The Average True Range (ATR) for Franklin Resources, Inc. is set at 0.64, with the Price to Sales ratio for BEN stock in the period of the last 12 months amounting to 1.75. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 7.37. Price to Free Cash Flow for BEN in the course of the last twelve months was 14.05.
BEN Stock Performance Analysis:
Franklin Resources, Inc. [BEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.36. With this latest performance, BEN shares dropped by -7.39% in over the last four-week period, additionally plugging by 10.09% over the last 6 months – not to mention a drop of -1.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEN stock in for the last two-week period is set at 39.34, with the RSI for the last a single of trading hit 34.81, and the three-weeks RSI is set at 42.37 for Franklin Resources, Inc. [BEN]. The present Moving Average for the last 50 days of trading for this stock 27.25, while it was recorded at 27.07 for the last single week of trading, and 26.51 for the last 200 days.
BEN Stock EPS
With the latest financial reports released by the company, Franklin Resources, Inc. posted 0.61/share EPS, while the average EPS was predicted by analysts to be reported at 0.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Franklin Resources, Inc. go to 8.63%.
Franklin Resources, Inc. [BEN] Institutonal Ownership Details
The top three institutional holders of BEN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BEN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BEN stock with ownership which is approximately 5.8386%.
