Franklin Resources, Inc. (NYSE:BEN) insider Jed A. Plafker sold 4,820 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $32.85, for a total value of $158,337.00. Following the completion of the sale, the insider now owns 56,369 shares in the company, valued at approximately $1,851,721.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
NYSE BEN opened at $31.37 on Thursday. The company has a market capitalization of $16.67 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.64 and a beta of 1.52. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a 52 week low of $29.95 and a 52 week high of $45.96.
Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 27th. The closed-end fund reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Franklin Resources had a return on equity of 15.40% and a net margin of 10.72%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. equities analysts expect that Franklin Resources, Inc. will post 3.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Thursday, September 27th. Franklin Resources’s dividend payout ratio (DPR) is 30.56%.
Several equities research analysts have commented on BEN shares. Zacks Investment Research upgraded Franklin Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, August 24th. Deutsche Bank cut their target price on Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. Jefferies Financial Group restated a “hold” rating and issued a $33.00 target price on shares of Franklin Resources in a research note on Friday, July 13th. Wells Fargo & Co cut their target price on Franklin Resources from $35.00 to $34.00 and set a “market perform” rating on the stock in a research note on Monday, July 30th. Finally, JPMorgan Chase & Co. cut Franklin Resources from a “neutral” rating to an “underweight” rating and cut their target price for the company from $32.00 to $29.00 in a research note on Thursday, September 6th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.25.
Several large investors have recently bought and sold shares of the business. Sciencast Management LP increased its position in shares of Franklin Resources by 6.6% during the 1st quarter. Sciencast Management LP now owns 25,001 shares of the closed-end fund’s stock worth $849,000 after purchasing an additional 1,538 shares during the last quarter. Wesbanco Bank Inc. increased its position in shares of Franklin Resources by 9.7% during the 1st quarter. Wesbanco Bank Inc. now owns 17,566 shares of the closed-end fund’s stock worth $609,000 after purchasing an additional 1,554 shares during the last quarter. Dupont Capital Management Corp increased its position in shares of Franklin Resources by 61.2% during the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock worth $134,000 after purchasing an additional 1,582 shares during the last quarter. World Asset Management Inc increased its position in shares of Franklin Resources by 6.7% during the 2nd quarter. World Asset Management Inc now owns 26,689 shares of the closed-end fund’s stock worth $855,000 after purchasing an additional 1,672 shares during the last quarter. Finally, IFG Advisory LLC increased its position in shares of Franklin Resources by 9.8% during the 2nd quarter. IFG Advisory LLC now owns 18,830 shares of the closed-end fund’s stock worth $603,000 after purchasing an additional 1,676 shares during the last quarter. 46.79% of the stock is currently owned by hedge funds and other institutional investors.
About Franklin Resources
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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