Franklin Resources (NYSE:BEN) has tumbled 1.3% during the past week and has dropped 6.21% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.12%. Franklin Resources (NYSE:BEN) has underperformed the index by 7.07% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Franklin Resources (NYSE:BEN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.10 and $33.01 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.51. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.35, notching a gain of 0.91% for the day. The total traded volume was 3,796,207 . The stock had closed at $33.05 on the previous day.
The company shares have dropped -35.17% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $51.94 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $35.66 and the 200 Day Moving Average price is recorded at $36.40.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Co-President) of Franklin Resources Inc, Johnson Jennifer M, had purchased 210 shares in a transaction dated on December 22, 2015. The transaction was executed at $35.74 per share with total amount equaling $7,505.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Deutsche Bank maintains its outlook on Franklin Resources (NYSE:BEN). The current rating of the shares is Hold, according to the research report released by the firm. The brokerage firm lowers the price target from $37 per share to $35 per share. The rating by the firm was issued on June 16, 2016. Currently the company Insiders own 20.41% of Franklin Resources shares according to the proxy statements. Institutional Investors own 50.44% of Franklin Resources shares.
Franklin Resources, Inc. (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally, which include the United States- and non- United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts. The Companys investment management and related services include fund administration, shareholder services, transfer agency, underwriting, distribution, custodial, trustee and other fiduciary services. Its sponsored investment products include a range of equity, hybrid, fixed-income and cash management funds and accounts, including alternative investment products.