Franklin Resources, Inc. (NYSE:BEN – Get Free Report) major shareholder Charles B. Johnson bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $19.08 per share, with a total value of $1,908,000.00. Following the completion of the transaction, the insider now directly owns 89,308,192 shares of the company’s stock, valued at approximately $1,704,000,303.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Franklin Resources Price Performance
BEN stock opened at $19.90 on Monday. Franklin Resources, Inc. has a one year low of $18.94 and a one year high of $30.32. The company’s fifty day moving average price is $21.68 and its 200-day moving average price is $23.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market capitalization of $10.47 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.
Franklin Resources (NYSE:BEN – Get Free Report) last released its earnings results on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, equities analysts anticipate that Franklin Resources, Inc. will post 2.41 EPS for the current fiscal year.
Franklin Resources Dividend Announcement
Hedge Funds Weigh In On Franklin Resources
Several institutional investors have recently bought and sold shares of BEN. Altshuler Shaham Ltd bought a new position in Franklin Resources during the second quarter valued at $27,000. Sentry Investment Management LLC bought a new position in Franklin Resources during the second quarter valued at $30,000. Headlands Technologies LLC bought a new position in Franklin Resources during the first quarter valued at $32,000. Principal Securities Inc. bought a new position in Franklin Resources during the fourth quarter valued at $35,000. Finally, Denali Advisors LLC bought a new position in Franklin Resources during the first quarter valued at $44,000. Institutional investors own 47.56% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on BEN. Deutsche Bank Aktiengesellschaft cut their target price 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. TD Cowen upped their price target on shares of Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Evercore ISI dropped their price target on shares of Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Franklin Resources in a research report on Thursday. They issued an “equal weight” rating and a $20.00 price target for the company. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $23.00 price target on shares of Franklin Resources in a research report on Thursday, August 22nd. Four analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and a consensus price target of $23.00.
Check Out Our Latest Stock Analysis on BEN
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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