Franklin Resources (BEN) is Downgraded by Credit Suisse to Underperform

Franklin Resources (BEN) is Downgraded by Credit Suisse to Underperform , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Franklin Resources, Inc. has dropped 0.22% during the last 3-month period . Year-to-Date the stock performance stands at -32.51%.The company shares have dropped -33.27% from its 1 Year high price. On Jan 2, 2015, the shares registered one year high at $55.91 and the one year low was seen on Dec 14, 2015. The 50-Day Moving Average price is $38.99 and the 200 Day Moving Average price is recorded at $42.03.

Franklin Resources, Inc. (NYSE:BEN) has lost 0.41% during the past week and dropped 10.5% in the last 4 weeks. The shares have outperformed the S&P 500 by 0.43% in the past week but underperformed the index by 8.41% in the last 4 weeks.

Shares of Franklin Resources, Inc. (NYSE:BEN) ended Thursday session in red amid volatile trading. The shares closed down 0.21 points or 0.57% at $36.82 with 2,025,868 shares getting traded. Post opening the session at $36.78, the shares hit an intraday low of $36.69 and an intraday high of $37.26 and the price vacillated in this range throughout the day. The company has a market cap of $22,147 million and the number of outstanding shares have been calculated to be 601,489,480 shares. The 52-week high of Franklin Resources, Inc. (NYSE:BEN) is $56.47 and the 52-week low is $34.62.

Currently the company Insiders own 19.87% of Franklin Resources, Inc. shares according to the proxy statements. Institutional Investors own 49.68% of Franklin Resources, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -0.89%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Johnson Jennifer M, officer (Co-President) of Franklin Resources Inc had purchased 210 shares on December 22, 2015 in a transaction. The price per share was $35.74 and the total amount of the disclosed transaction was $7,505.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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 choices under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names. The Company operates in two segments: investment management and related services, and banking/finance. Its investment management and related services provides services to investment funds in jurisdictions globally, which include the United States- and non-the United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts. Its banking/finance segment provides clients with select retail banking, private banking and consumer lending services through its banking and finance subsidiaries. In November 2012, it acquired a majority stake in K2 Advisors Holdings LLC.