Franklin Resources Inc Acquires 49,769 Shares of Franklin Resources, Inc. (NYSE:BEN) Stock

Franklin Resources, Inc. (NYSE:BENGet Rating) insider Franklin Resources Inc acquired 49,769 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were acquired at an average price of $4.47 per share, for a total transaction of $222,467.43. Following the completion of the purchase, the insider now owns 5,656,068 shares of the company’s stock, valued at approximately $25,282,623.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, September 19th, Franklin Resources Inc bought 66,591 shares of Franklin Resources stock. The shares were bought at an average cost of $4.51 per share, for a total transaction of $300,325.41.
  • On Wednesday, September 14th, Franklin Resources Inc purchased 100 shares of Franklin Resources stock. The stock was bought at an average cost of $30.50 per share, with a total value of $3,050.00.
  • On Monday, September 12th, Franklin Resources Inc acquired 4,500 shares of Franklin Resources stock. The shares were bought at an average cost of $31.35 per share, for a total transaction of $141,075.00.
  • On Friday, September 9th, Franklin Resources Inc purchased 26,347 shares of Franklin Resources stock. The shares were purchased at an average cost of $4.56 per share, with a total value of $120,142.32.
  • On Wednesday, September 7th, Franklin Resources Inc acquired 1,965,409 shares of Franklin Resources stock. The stock was purchased at an average cost of $12.72 per share, for a total transaction of $25,000,002.48.
  • On Monday, August 29th, Franklin Resources Inc bought 4,378 shares of Franklin Resources stock. The stock was purchased at an average price of $31.74 per share, with a total value of $138,957.72.
  • On Friday, August 26th, Franklin Resources Inc purchased 4,419 shares of Franklin Resources stock. The shares were acquired at an average cost of $31.56 per share, for a total transaction of $139,463.64.
  • On Wednesday, August 24th, Franklin Resources Inc acquired 74,710 shares of Franklin Resources stock. The stock was acquired at an average cost of $4.70 per share, with a total value of $351,137.00.
  • On Monday, August 22nd, Franklin Resources Inc bought 71,931 shares of Franklin Resources stock. The shares were acquired at an average cost of $4.60 per share, for a total transaction of $330,882.60.
  • On Friday, August 19th, Franklin Resources Inc purchased 82,931 shares of Franklin Resources stock. The shares were acquired at an average price of $4.64 per share, for a total transaction of $384,799.84.

Franklin Resources Stock Down 1.2 %

Shares of BEN opened at $24.25 on Thursday. The stock’s 50-day moving average price is $26.41 and its 200-day moving average price is $26.05. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 4.35 and a beta of 1.19. Franklin Resources, Inc. has a 52 week low of $22.61 and a 52 week high of $38.27.

Franklin Resources (NYSE:BENGet Rating) last issued its quarterly earnings data 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. Franklin Resources had a net margin of 20.25% and a return on equity of 17.37%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company earned $0.96 EPS. The business’s revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts predict that Franklin Resources, Inc. will post 3.62 EPS for the current year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Thursday, September 29th. Franklin Resources’s payout ratio is currently 34.52%.

Wall Street Analyst Weigh In

A number of analysts recently commented on BEN shares. BMO Capital Markets lowered their target price on shares of Franklin Resources from $29.00 to $27.00 in a research note on Wednesday, June 1st. UBS Group boosted their price objective on shares of Franklin Resources from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, August 1st. The Goldman Sachs Group initiated 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. Bank of America downgraded Franklin Resources from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $28.00 to $25.00 in a research note on Thursday, September 8th. Finally, Keefe, Bruyette & Woods cut Franklin Resources from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $28.00 to $22.00 in a research note on Tuesday, June 28th. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.25.

Institutional Investors Weigh In On Franklin Resources

A number of institutional investors have recently modified their holdings of BEN. Capital Analysts LLC boosted its position in shares of Franklin Resources by 31.8% during the 2nd quarter. Capital Analysts LLC now owns 1,447 shares of the closed-end fund’s stock valued at $34,000 after acquiring an additional 349 shares during the last quarter. Beacon Financial Group raised its stake in Franklin Resources by 1.5% during the second 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 period. RK Asset Management LLC boosted its holdings in Franklin Resources by 0.3% in the 1st quarter. RK Asset Management LLC now owns 150,994 shares of the closed-end fund’s stock valued at $4,216,000 after purchasing an additional 405 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Franklin Resources by 1.1% in the 1st quarter. Nordea Investment Management AB now owns 37,246 shares of the closed-end fund’s stock valued at $1,065,000 after buying an additional 411 shares during the period. Finally, First National Trust Co increased its holdings 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 buying an additional 417 shares during the last quarter. 45.57% of the stock is currently owned by institutional investors and hedge funds.

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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