Franklin Resources, Inc. (NYSE:BEN) Insider Franklin Resources Inc Sells 8,467 Shares of Stock

Franklin Resources, Inc. (NYSE:BEN) insider Franklin Resources Inc sold 8,467 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $43.69, for a total transaction of $369,923.23. Following the transaction, the insider now directly owns 51,019 shares in the company, valued at $2,229,020.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Franklin Resources Inc also recently made the following trade(s):

• On Friday, October 18th, Franklin Resources Inc sold 7,900 shares of Franklin Resources stock. The stock was sold at an average price of $43.71, for a total value of $345,309.00.
• On Monday, October 14th, Franklin Resources Inc sold 7,657 shares of Franklin Resources stock. The shares were sold at an average price of $43.90, for a total value of $336,142.30.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $20.98 on Friday. The company has a market capitalization of $11.04 billion, a PE ratio of 11.99, a PEG ratio of 2.29 and a beta of 1.39. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average price is $20.44 and its 200-day moving average price is $22.48. Franklin Resources, Inc. has a twelve month low of $18.94 and a twelve month high of $30.32.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. On average, equities analysts anticipate that Franklin Resources, Inc. will post 2.4 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.24 annualized dividend and a yield of 5.91%. Franklin Resources’s payout ratio is currently 70.86%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BEN. Wells Fargo & Company cut their target price on Franklin Resources from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets reduced their price objective on shares of Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a report on Monday, July 29th. Barclays lowered their target price on shares of Franklin Resources from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. Evercore ISI cut their price target on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating for the company in a research note on Friday, October 4th. Finally, UBS Group lowered their price objective on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.73.

Institutional Trading of Franklin Resources

Several hedge funds have recently added to or reduced their stakes in BEN. Quadrature Capital Ltd purchased a new stake in shares of Franklin Resources during the 4th quarter worth approximately $974,000. Nomura Holdings Inc. increased its position in Franklin Resources by 104.1% in the fourth quarter. Nomura Holdings Inc. now owns 18,129 shares of the closed-end fund’s stock worth $540,000 after buying an additional 9,245 shares during the last quarter. CWM LLC raised its stake in shares of Franklin Resources by 4.4% in the first quarter. CWM LLC now owns 9,652 shares of the closed-end fund’s stock valued at $271,000 after buying an additional 410 shares during the period. Alaska Permanent Fund Corp bought a new stake in shares of Franklin Resources in the first quarter valued at $1,347,000. Finally, Czech National Bank lifted its position in shares of Franklin Resources by 6.9% during the 1st quarter. Czech National Bank now owns 52,802 shares of the closed-end fund’s stock valued at $1,484,000 after buying an additional 3,426 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.