Franklin Resources, Inc. (NYSE:BEN - Get Free Report) insider Franklin Resources Inc sold 7,900 shares of Franklin Resources stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $43.71, for a total value of $345,309.00. Following the transaction, the insider now owns 36,519 shares of the company's stock, valued at approximately $1,596,245.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Franklin Resources Inc also recently made the following trade(s):
Franklin Resources stock traded up $0.31 during trading on Friday, reaching $20.98. 4,748,134 shares of the company were exchanged, compared to its average volume of 3,999,031. Franklin Resources, Inc. has a 52-week low of $18.94 and a 52-week high of $30.32. The company has a market capitalization of $11.04 billion, a P/E ratio of 11.81, a PEG ratio of 2.29 and a beta of 1.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.71 and a quick ratio of 1.71. The stock's 50 day simple moving average is $20.47 and its two-hundred day simple moving average is $22.53.
Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, equities research analysts expect that Franklin Resources, Inc. will post 2.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 5.91%. Franklin Resources's dividend payout ratio is currently 70.86%.
Several brokerages have commented on BEN. BMO Capital Markets dropped their price objective on Franklin Resources from $27.00 to $26.00 and set a "market perform" rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Franklin Resources from $24.00 to $23.00 and set a "hold" rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group lowered their price target on Franklin Resources from $23.75 to $21.25 and set a "sell" rating on the stock in a research note on Monday, September 30th. Barclays lowered their price target on Franklin Resources from $20.00 to $19.00 and set an "underweight" rating on the stock in a research note on Monday. Finally, TD Cowen lifted their price target on Franklin Resources from $23.00 to $24.00 and gave the stock a "hold" rating in a research note on Monday, July 29th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.73.
Check Out Our Latest Stock Report on Franklin Resources
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new stake in shares of Franklin Resources in the 2nd quarter valued at $27,000. Matrix Trust Co purchased a new stake in shares of Franklin Resources in the 3rd quarter valued at $29,000. Sentry Investment Management LLC purchased a new stake in shares of Franklin Resources in the 2nd quarter valued at $30,000. Headlands Technologies LLC purchased a new stake in shares of Franklin Resources in the 1st quarter valued at $32,000. Finally, Denali Advisors LLC purchased a new stake in shares of Franklin Resources in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 47.56% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Franklin Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Resources wasn't on the list.
While Franklin Resources currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.