In the latest trading session, 1.39 million Franklin Resources, Inc. (NYSE:BEN) shares changed hands as the company’s beta touched 1.42. With the company’s most recent per share price at $27.24 changing hands around $0.21 or 0.76% at last look, the market valuation stands at $14.34B. BEN’s current price is a discount, trading about -11.31% off its 52-week high of $30.32. The share price had its 52-week low at $21.88, which suggests the last value was 19.68% up since then. When we look at Franklin Resources, Inc.’s average trading volume, we note the 10-day average is 3.86 million shares, with the 3-month average coming to 3.37 million.
Franklin Resources, Inc. (NYSE:BEN) trade information
Instantly BEN is in green as seen in intraday trades today. With action -0.42%, the performance over the past five days has been red. The jump to weekly highs of 28.07 added 0.76% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.58%, with the 5-day performance at -0.42% in the red. However, in the 30-day time frame, Franklin Resources, Inc. (NYSE:BEN) is 0.54% up. Looking at the short shares, we see there were 20.48 million shares sold at short interest cover period of 6.05 days.
Franklin Resources, Inc. (BEN) estimates and forecasts
Data shows that the Franklin Resources, Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 11.80% over the past 6 months, a -3.46% in annual growth rate that is considerably lower than the industry average of 6.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Franklin Resources, Inc. will fall -4.90%. Year-over-year growth is forecast to reach 8.30% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $1.67 billion. 7 analysts are of the opinion that Franklin Resources, Inc.’s revenue for the quarter ending Jun 2024 will be $1.69 billion. The estimates for the next quarter sales put growth at 7.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.38%. The 2024 estimates are for Franklin Resources, Inc. earnings to decrease by -2.48%, but the outlook for the next 5-year period is at 9.65% per year.
BEN Dividends
Franklin Resources, Inc. is expected to release its next quarterly earnings report between April 29 and May 03. The 4.44% annual yield figure for the share gives it an annual dividend of 1.21. It is important to note, however, that the 4.44% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Franklin Resources, Inc. (NYSE:BEN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 40.24% of Franklin Resources, Inc. shares while 48.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.41%. There are 48.65% institutions holding the Franklin Resources, Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 6.97% of the shares, roughly 34.78 million BEN shares worth $929.07 million.
State Street Corporation holds the second largest percentage of outstanding shares, with 6.36% or 31.76 million shares worth $848.26 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were American Mutual Fund Inc and Vanguard Total Stock Market Index Fund. With 13.04 million shares estimated at $320.57 million under it, the former controlled 2.61% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.88% of the shares, roughly 9.36 million shares worth around $249.97 million.
