Insider Buying: Franklin Resources, Inc. (NYSE:BEN) Insider Purchases $222,467.43 in Stock

Franklin Resources, Inc. (NYSE:BENGet Rating) insider Franklin Resources Inc purchased 49,769 shares of the company’s stock in a transaction on Friday, September 16th. The shares were bought at an average cost of $4.47 per share, with a total value of $222,467.43. Following the transaction, the insider now directly owns 5,656,068 shares of the company’s stock, valued at approximately $25,282,623.96. 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 Wednesday, September 21st, Franklin Resources Inc purchased 49,621 shares of Franklin Resources stock. The shares were bought at an average cost of $4.50 per share, with a total value of $223,294.50.
  • On Wednesday, September 21st, Franklin Resources Inc purchased 49,621 shares of Franklin Resources stock. The shares were bought at an average cost of $4.50 per share, with a total value of $223,294.50.
  • On Monday, September 19th, Franklin Resources Inc purchased 66,591 shares of Franklin Resources stock. The shares were bought at an average cost of $4.51 per share, with a total value of $300,325.41.
  • On Wednesday, September 14th, Franklin Resources Inc purchased 100 shares of Franklin Resources stock. The shares were 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 stock was acquired at an average cost of $31.35 per share, with a total value of $141,075.00.
  • On Friday, September 9th, Franklin Resources Inc acquired 26,347 shares of Franklin Resources stock. The stock was acquired 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 acquired at an average cost of $12.72 per share, with a total value of $25,000,002.48.
  • On Monday, August 29th, Franklin Resources Inc acquired 4,378 shares of Franklin Resources stock. The stock was acquired at an average cost of $31.74 per share, with a total value of $138,957.72.
  • On Friday, August 26th, Franklin Resources Inc acquired 4,419 shares of Franklin Resources stock. The stock was acquired at an average cost of $31.56 per share, with a total value 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.

Franklin Resources Trading Down 2.2 %

Shares of BEN opened at $23.71 on Friday. The stock’s 50-day moving average is $26.39 and its two-hundred day moving average is $26.03. The stock has a market cap of $11.82 billion, a PE ratio of 7.06, a P/E/G ratio of 4.30 and a beta of 1.19. Franklin Resources, Inc. has a 12 month low of $22.61 and a 12 month high of $38.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.99.

Franklin Resources (NYSE:BENGet Rating) last released its quarterly earnings results on Thursday, July 28th. The closed-end fund reported $0.82 EPS for the quarter, topping the consensus estimate of $0.73 by $0.09. Franklin Resources had a return on equity of 17.37% and a net margin of 20.25%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that Franklin Resources, Inc. will post 3.62 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Thursday, September 29th. Franklin Resources’s dividend payout ratio (DPR) is 34.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America downgraded Franklin Resources from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $28.00 to $25.00 in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Franklin Resources from $26.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, August 12th. BMO Capital Markets lowered their price target on Franklin Resources from $29.00 to $27.00 in a research report on Wednesday, June 1st. UBS Group boosted their price target on Franklin Resources from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, August 1st. Finally, Keefe, Bruyette & Woods downgraded Franklin Resources from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $28.00 to $22.00 in a research report on Tuesday, June 28th. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Capital Analysts LLC lifted its stake in shares of Franklin Resources by 31.8% in the second quarter. Capital Analysts LLC now owns 1,447 shares of the closed-end fund’s stock worth $34,000 after acquiring an additional 349 shares in the last quarter. Beacon Financial Group increased its holdings in Franklin Resources by 1.5% in the second quarter. Beacon Financial Group now owns 26,674 shares of the closed-end fund’s stock valued at $673,000 after buying an additional 397 shares during the last quarter. RK Asset Management LLC increased its holdings in Franklin Resources by 0.3% in the first quarter. RK Asset Management LLC now owns 150,994 shares of the closed-end fund’s stock valued at $4,216,000 after buying an additional 405 shares during the last quarter. Nordea Investment Management AB increased its holdings in Franklin Resources by 1.1% in the first 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 last quarter. Finally, First National Trust Co increased its holdings in Franklin Resources by 2.2% in the first quarter. First National Trust Co now owns 19,297 shares of the closed-end fund’s stock valued at $539,000 after buying an additional 417 shares during the last quarter. Institutional investors and hedge funds own 45.57% of the company’s stock.

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.

See Also

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

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