Franklin Resources, Inc. (NYSE:BEN) Insider Franklin Resources Inc Acquires 1,968,504 Shares of Stock

Franklin Resources, Inc. (NYSE:BENGet Rating) insider Franklin Resources Inc acquired 1,968,504 shares of Franklin Resources stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $12.70 per share, with a total value of $25,000,000.80. Following the completion of the acquisition, the insider now directly owns 3,938,559 shares of the company’s stock, valued at $50,019,699.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Monday, August 1st, Franklin Resources Inc acquired 98,239 shares of Franklin Resources stock. The shares were acquired at an average price of $4.69 per share, with a total value of $460,740.91.
  • On Friday, July 29th, Franklin Resources Inc acquired 88,884 shares of Franklin Resources stock. The shares were acquired at an average price of $4.59 per share, with a total value of $407,977.56.
  • On Wednesday, July 27th, Franklin Resources Inc acquired 127,186 shares of Franklin Resources stock. The shares were acquired at an average price of $4.40 per share, with a total value of $559,618.40.
  • On Monday, July 25th, Franklin Resources Inc purchased 79,523 shares of Franklin Resources stock. The shares were purchased at an average price of $4.40 per share, for a total transaction of $349,901.20.
  • On Friday, July 22nd, Franklin Resources Inc purchased 113,726 shares of Franklin Resources stock. The shares were purchased at an average price of $4.46 per share, for a total transaction of $507,217.96.
  • On Wednesday, July 20th, Franklin Resources Inc purchased 108,467 shares of Franklin Resources stock. The shares were purchased at an average price of $4.43 per share, for a total transaction of $480,508.81.
  • On Monday, July 18th, Franklin Resources Inc purchased 121,568 shares of Franklin Resources stock. The shares were purchased at an average price of $4.40 per share, for a total transaction of $534,899.20.
  • On Friday, July 15th, Franklin Resources Inc purchased 56,500 shares of Franklin Resources stock. The shares were purchased at an average price of $4.35 per share, for a total transaction of $245,775.00.
  • On Wednesday, July 13th, Franklin Resources Inc purchased 54,595 shares of Franklin Resources stock. The shares were purchased at an average price of $4.37 per share, for a total transaction of $238,580.15.
  • On Wednesday, July 13th, Franklin Resources Inc bought 54,595 shares of Franklin Resources stock. The stock was bought at an average price of $4.37 per share, for a total transaction of $238,580.15.

Franklin Resources Stock Performance

Franklin Resources stock opened at $27.65 on Friday. The firm’s 50 day simple moving average is $25.12 and its 200 day simple moving average is $27.01. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $13.78 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 4.87 and a beta of 1.20. Franklin Resources, Inc. has a 1-year low of $22.61 and a 1-year high of $38.27.

Franklin Resources (NYSE:BENGet Rating) last posted its earnings results on Thursday, July 28th. The closed-end fund reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.75 billion. Franklin Resources had a net margin of 20.25% and a return on equity of 17.37%. Franklin Resources’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. As a group, analysts expect that Franklin Resources, Inc. will post 3.59 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Wednesday, June 29th. Franklin Resources’s dividend payout ratio (DPR) is presently 34.52%.

Institutional Trading of Franklin Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Franklin Resources by 7.0% in the 1st quarter. BlackRock Inc. now owns 28,906,180 shares of the closed-end fund’s stock worth $807,062,000 after buying an additional 1,890,938 shares in the last quarter. Royal Bank of Canada grew its stake in Franklin Resources by 202.7% in the 1st quarter. Royal Bank of Canada now owns 2,126,650 shares of the closed-end fund’s stock worth $59,377,000 after buying an additional 1,424,044 shares in the last quarter. Vanguard Group Inc. grew its stake in Franklin Resources by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 34,072,606 shares of the closed-end fund’s stock worth $951,307,000 after buying an additional 1,390,583 shares in the last quarter. ProShare Advisors LLC grew its stake in Franklin Resources by 27.5% in the 2nd quarter. ProShare Advisors LLC now owns 6,399,548 shares of the closed-end fund’s stock worth $149,174,000 after buying an additional 1,380,595 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Franklin Resources by 30.9% in the 1st quarter. Invesco Ltd. now owns 5,507,038 shares of the closed-end fund’s stock worth $153,758,000 after buying an additional 1,298,729 shares in the last quarter. Institutional investors own 43.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Franklin Resources from $28.00 to $25.00 in a research note on Thursday, May 19th. UBS Group boosted their target price on shares of Franklin Resources from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 1st. Morgan Stanley dropped their target price on shares of Franklin Resources from $27.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, June 30th. Keefe, Bruyette & Woods cut shares of Franklin Resources from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $28.00 to $22.00 in a research note on Tuesday, June 28th. Finally, Citigroup lowered shares of Franklin Resources from a “buy” rating to a “neutral” rating and lowered their price target for the company from $44.50 to $28.00 in a research report on Tuesday, April 12th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Franklin Resources presently has a consensus rating of “Hold” and a consensus price target of $26.38.

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.

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

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