Franklin Resources Inc Purchases 121,568 Shares of Franklin Resources, Inc. (NYSE:BEN) Stock

Franklin Resources, Inc. (NYSE:BENGet Rating) insider Franklin Resources Inc acquired 121,568 shares of Franklin Resources stock in a transaction on Monday, July 18th. The shares were bought at an average price of $4.40 per share, with a total value of $534,899.20. Following the purchase, the insider now directly owns 616,240 shares in the company, valued at approximately $2,711,456. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Friday, July 15th, Franklin Resources Inc acquired 56,500 shares of Franklin Resources stock. The shares were bought at an average price of $4.35 per share, with a total value of $245,775.00.
  • On Wednesday, July 13th, Franklin Resources Inc acquired 54,595 shares of Franklin Resources stock. The shares were bought at an average price of $4.37 per share, with a total value of $238,580.15.
  • On Wednesday, July 13th, Franklin Resources Inc acquired 54,595 shares of Franklin Resources stock. The shares were bought at an average price of $4.37 per share, with a total value of $238,580.15.
  • On Monday, July 11th, Franklin Resources Inc acquired 56,123 shares of Franklin Resources stock. The shares were bought at an average price of $4.32 per share, with a total value of $242,451.36.
  • On Thursday, July 7th, Franklin Resources Inc purchased 41,926 shares of Franklin Resources stock. The stock was acquired at an average price of $4.43 per share, with a total value of $185,732.18.
  • On Tuesday, July 5th, Franklin Resources Inc purchased 36,266 shares of Franklin Resources stock. The stock was acquired at an average price of $4.51 per share, with a total value of $163,559.66.
  • On Friday, July 1st, Franklin Resources Inc purchased 56,900 shares of Franklin Resources stock. The stock was acquired at an average price of $4.45 per share, with a total value of $253,205.00.

Franklin Resources Trading Up 0.8 %

Shares of Franklin Resources stock opened at $25.62 on Friday. The stock has a market cap of $12.81 billion, a P/E ratio of 6.89, a P/E/G ratio of 4.55 and a beta of 1.15. The stock’s 50 day simple moving average is $24.96 and its 200-day simple moving average is $27.64. Franklin Resources, Inc. has a 1-year low of $22.61 and a 1-year high of $38.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.13 and a quick ratio of 2.13.

Franklin Resources (NYSE:BENGet Rating) last issued its earnings results on Tuesday, May 3rd. The closed-end fund reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Franklin Resources had a return on equity of 18.34% and a net margin of 22.02%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. Analysts predict that Franklin Resources, Inc. will post 3.53 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Wednesday, June 29th. Franklin Resources’s payout ratio is 31.18%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BEN shares. StockNews.com started coverage on Franklin Resources in a research note on Thursday, March 31st. They issued a “hold” rating for the company. UBS Group lowered their price objective on Franklin Resources from $27.00 to $24.00 in a report on Monday, July 11th. BMO Capital Markets lowered their price objective on Franklin Resources from $29.00 to $27.00 in a report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Franklin Resources from $28.00 to $25.00 in a report on Thursday, May 19th. Finally, Keefe, Bruyette & Woods cut Franklin Resources from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $28.00 to $22.00 in a report on Tuesday, June 28th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Franklin Resources presently has a consensus rating of “Hold” and an average target price of $26.00.

Institutional Trading of Franklin Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Beacon Financial Group increased its position in shares of Franklin Resources by 1.5% during the 2nd quarter. Beacon Financial Group now owns 26,674 shares of the closed-end fund’s stock worth $673,000 after purchasing an additional 397 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Franklin Resources by 2.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 17,612 shares of the closed-end fund’s stock worth $590,000 after purchasing an additional 405 shares during the last quarter. RK Asset Management LLC increased its position in shares of Franklin Resources by 0.3% during the 1st quarter. RK Asset Management LLC now owns 150,994 shares of the closed-end fund’s stock worth $4,216,000 after purchasing an additional 405 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Franklin Resources by 1.1% during the 1st quarter. Nordea Investment Management AB now owns 37,246 shares of the closed-end fund’s stock worth $1,065,000 after purchasing an additional 411 shares during the last quarter. Finally, First National Trust Co increased its position in shares of Franklin Resources by 2.2% during the 1st quarter. First National Trust Co now owns 19,297 shares of the closed-end fund’s stock worth $539,000 after purchasing an additional 417 shares during the last quarter. 43.50% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Company Profile

(Get Rating)

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.

See Also

Insider Buying and Selling by Quarter for Franklin Resources (NYSE:BEN)

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