Franklin Resources, Inc. (NYSE:BEN) EVP Craig Steven Tyle sold 5,000 shares of Franklin Resources stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.57, for a total transaction of $137,850.00. Following the sale, the executive vice president now directly owns 113,793 shares of the company’s stock, valued at approximately $3,137,273.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Craig Steven Tyle also recently made the following trade(s):
- On Tuesday, September 3rd, Craig Steven Tyle sold 5,000 shares of Franklin Resources stock. The stock was sold at an average price of $26.01, for a total transaction of $130,050.00.
Shares of NYSE:BEN traded down $0.51 during midday trading on Monday, hitting $26.98. The stock had a trading volume of 3,471,490 shares, compared to its average volume of 2,948,267. The company’s 50-day moving average price is $27.73 and its 200-day moving average price is $30.33. The company has a market capitalization of $13.69 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.21. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $35.82.
Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, October 25th. The closed-end fund reported $0.61 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. Franklin Resources had a net margin of 20.71% and a return on equity of 12.28%. Franklin Resources’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Research analysts expect that Franklin Resources, Inc. will post 2.6 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in shares of Franklin Resources by 2,951.3% in the second quarter. Bessemer Group Inc. now owns 88,428 shares of the closed-end fund’s stock worth $3,078,000 after purchasing an additional 85,530 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of Franklin Resources by 12.9% in the 2nd quarter. FDx Advisors Inc. now owns 12,848 shares of the closed-end fund’s stock valued at $447,000 after acquiring an additional 1,469 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Franklin Resources in the 2nd quarter valued at about $278,000. Daiwa Securities Group Inc. increased its holdings in shares of Franklin Resources by 14.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 13,130 shares of the closed-end fund’s stock valued at $457,000 after acquiring an additional 1,651 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Franklin Resources by 3.3% in the 2nd quarter. Strs Ohio now owns 37,111 shares of the closed-end fund’s stock valued at $1,291,000 after acquiring an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.
Several analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Franklin Resources in a report on Monday, October 7th. They set an “underperform” rating and a $16.00 target price for the company. Barclays reaffirmed a “sell” rating and set a $24.00 target price on shares of Franklin Resources in a report on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Franklin Resources from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, October 8th. Deutsche Bank reduced their target price on shares of Franklin Resources from $31.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. raised shares of Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 target price for the company in a report on Thursday, September 12th. Seven equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.92.
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.
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