Franklin Resources (NYSE:BEN) Stock: Insider Matthew Nicholls Sells 160,000 Shares

Franklin Resources, Inc. (NYSE:BEN) CFO Matthew Nicholls sold 160,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $36.20, for a total value of $5,792,000.00. Following the completion of the transaction, the chief financial officer directly owned 774,348 shares in the company, valued at approximately $28,031,397.60. This trade represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Franklin Resources Stock Up 0.4%

NYSE:BEN opened at $35.99 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 1.31. Franklin Resources, Inc. has a 12-month low of $21.10 and a 12-month high of $36.79. The stock’s fifty day simple moving average is $32.82 and its 200-day simple moving average is $30.64. The firm has a market capitalization of $18.39 billion, a P/E ratio of 18.17, a P/E/G ratio of 0.53 and a beta of 1.56.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Franklin Resources had a return on equity of 12.54% and a net margin of 11.42%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Franklin Resources, Inc. will post 3.26 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is currently 66.67%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Deutsche Bank restated a “hold” rating and set a $34.00 price objective on shares of Franklin Resources in a report on Monday, August 3rd. TD Cowen lifted their price target on shares of Franklin Resources from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, November 9th. JPMorgan Chase & Co. boosted their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, October 12th. Morgan Stanley upped their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, September 25th. Finally, UBS Group initiated coverage on shares of Franklin Resources in a research report on Wednesday, October 7th. They issued a “buy” rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Franklin Resources in the 2nd quarter worth $961,845,000. Azora Capital LP bought a new position in Franklin Resources during the 2nd quarter worth about $229,850,000. Bank of New York Mellon Corp acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at about $152,692,000. Kopernik Global Investors LLC lifted its holdings in shares of Franklin Resources by 4.6% in the first quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund’s stock valued at $83,204,000 after purchasing an additional 153,422 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Franklin Resources by 37.3% in the first quarter. Bank of America Corp DE now owns 1,964,424 shares of the closed-end fund’s stock valued at $46,400,000 after purchasing an additional 533,192 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc. is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts. The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.