Franklin Resources (BEN) Scheduled to Post Quarterly Earnings on Monday

Franklin Resources (NYSE:BEN) is scheduled to be issuing its quarterly earnings data before the market opens on Monday, November 4th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Franklin Resources Stock Up 0.3 %

BEN opened at $20.84 on Friday. The company has a market cap of $10.90 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.81 and a beta of 1.39. Franklin Resources has a 1 year low of $18.94 and a 1 year high of $30.32. The firm has a 50 day moving average price of $20.21 and a 200 day moving average price of $22.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date was Monday, September 30th. Franklin Resources’s dividend payout ratio is presently 76.07%.

Insiders Place Their Bets

In other Franklin Resources news, major shareholder Charles B. Johnson acquired 100,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $19.84 per share, with a total value of $1,984,000.00. Following the completion of the acquisition, the insider now directly owns 89,208,192 shares in the company, valued at $1,769,890,529.28. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Charles B. Johnson purchased 100,000 shares of Franklin Resources stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $19.84 per share, with a total value of $1,984,000.00. Following the completion of the acquisition, the insider now owns 89,208,192 shares in the company, valued at $1,769,890,529.28. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Franklin Resources Inc sold 7,657 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $43.90, for a total transaction of $336,142.30. Following the transaction, the insider now directly owns 65,862 shares of the company’s stock, valued at approximately $2,891,341.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 231,600 shares of company stock valued at $4,537,637 and sold 24,024 shares valued at $1,051,375. 24.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on BEN shares. Barclays decreased their price target on Franklin Resources from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Monday, October 14th. TD Cowen upped their price target on Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $23.00 target price on shares of Franklin Resources in a research note on Thursday, August 22nd. UBS Group decreased their price target on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Franklin Resources presently has a consensus rating of “Hold” and an average price target of $21.43.

Franklin Resources Company Profile

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.