Franklin Resources, Inc. (NYSE:BEN) Insider Franklin Resources Inc Buys 88,884 Shares

Franklin Resources, Inc. (NYSE:BENGet Rating) insider Franklin Resources Inc purchased 88,884 shares of Franklin Resources stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average price of $4.59 per share, for a total transaction of $407,977.56. Following the completion of the transaction, the insider now owns 1,521,978 shares in the company, valued at $6,985,879.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Wednesday, July 27th, Franklin Resources Inc purchased 127,186 shares of Franklin Resources stock. The shares were bought at an average price of $4.40 per share, for a total transaction of $559,618.40.
  • On Monday, July 25th, Franklin Resources Inc purchased 79,523 shares of Franklin Resources stock. The shares were bought at an average price of $4.40 per share, for a total transaction of $349,901.20.
  • On Friday, July 22nd, Franklin Resources Inc acquired 113,726 shares of Franklin Resources stock. The stock was acquired at an average price of $4.46 per share, with a total value of $507,217.96.
  • On Wednesday, July 20th, Franklin Resources Inc acquired 108,467 shares of Franklin Resources stock. The stock was acquired at an average price of $4.43 per share, with a total value of $480,508.81.
  • On Monday, July 18th, Franklin Resources Inc acquired 121,568 shares of Franklin Resources stock. The stock was acquired at an average price of $4.40 per share, with a total value of $534,899.20.
  • On Friday, July 15th, Franklin Resources Inc acquired 56,500 shares of Franklin Resources stock. The stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired at an average price of $4.32 per share, with a total value of $242,451.36.
  • On Thursday, July 7th, Franklin Resources Inc bought 41,926 shares of Franklin Resources stock. The stock was purchased at an average price of $4.43 per share, with a total value of $185,732.18.

Franklin Resources Stock Up 1.8 %

Franklin Resources stock opened at $27.94 on Tuesday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 5.03 and a beta of 1.20. The stock has a fifty day simple moving average of $25.06 and a two-hundred day simple moving average of $27.11. Franklin Resources, Inc. has a 12 month low of $22.61 and a 12 month high of $38.27. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.72.

Franklin Resources (NYSE:BENGet Rating) last posted its earnings results on Thursday, July 28th. The closed-end fund reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.75 billion. Franklin Resources had a return on equity of 17.37% and a net margin of 20.25%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Equities analysts predict that Franklin Resources, Inc. will post 3.45 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Wednesday, June 29th. Franklin Resources’s payout ratio is 34.52%.

Institutional Trading of Franklin Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in shares of Franklin Resources by 1.0% in the fourth quarter. Russell Investments Group Ltd. now owns 108,535 shares of the closed-end fund’s stock worth $3,628,000 after acquiring an additional 1,093 shares during the period. National Bank of Canada FI bought a new stake in shares of Franklin Resources in the fourth quarter worth $30,000. State of Michigan Retirement System grew its holdings in shares of Franklin Resources by 6.5% in the fourth quarter. State of Michigan Retirement System now owns 78,372 shares of the closed-end fund’s stock worth $2,625,000 after acquiring an additional 4,758 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Franklin Resources in the fourth quarter worth $2,181,000. Finally, Vestmark Advisory Solutions Inc. grew its holdings in shares of Franklin Resources by 23.8% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 13,755 shares of the closed-end fund’s stock worth $461,000 after acquiring an additional 2,646 shares during the period. Institutional investors own 43.50% of the company’s stock.

Analyst Ratings Changes

BEN has been the subject of a number of research analyst reports. UBS Group raised their target price on Franklin Resources from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley lowered their target price on Franklin Resources from $27.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, June 30th. BMO Capital Markets lowered their target price on Franklin Resources from $29.00 to $27.00 in a research note on Wednesday, June 1st. The Goldman Sachs Group started coverage on Franklin Resources in a research note on Tuesday, June 28th. They issued a “sell” rating and a $23.00 target price for the company. Finally, Citigroup cut Franklin Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $44.50 to $28.00 in a research note on Tuesday, April 12th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $26.38.

Franklin Resources Company Profile

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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.

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