Franklin Resources, Inc. (NYSE:BEN) Insider Acquires $163,559.66 in Stock

Franklin Resources, Inc. insider (NYSE:BEN – Get Rating) Franklin Resources Inc bought 36,266 shares in a trade dated Tuesday, July 5. The shares were purchased at an average cost of $4.51 per share, with a total value of $163,559.66. Following the completion of the acquisition, the insider now directly owns 93,166 shares of the company, valued at approximately $420,178.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website.

Franklin Resources Inc also recently completed the following transactions:

  • On Friday, July 1, Franklin Resources Inc purchased 56,900 shares of Franklin Resources. The shares were purchased at an average cost of $4.45 per share, with a total value of $253,205.00.

BEN lost $0.13 during Wednesday’s trading, hitting $23.69. The stock had a trading volume of 2,717,213 shares, compared to an average volume of 3,199,257. The company has a market capitalization of $11.84 billion, a price-earnings ratio of 6.37, a growth price/earnings of 3.99 and a beta of 1.15. The company has a quick ratio of 2.13, a current ratio of 2.13 and a leverage ratio of 0.70. Franklin Resources, Inc. has a 1-year low of $22.61 and a 1-year high of $38.27. The stock has a 50-day moving average of $25.09 and a two-hundred-day moving average of $28.32.

Franklin Resources (NYSE:BEN – Get Rating) last released its results on Tuesday, May 3. The closed-end fund reported earnings per share of $0.96 for the quarter, beating analysts’ consensus estimate of $0.79 by $0.17. The company posted revenue of $2.08 billion in the quarter, versus a consensus estimate of $2.08 billion. Franklin Resources had a return on equity of 18.34% and a net margin of 22.02%. The company’s revenue for the quarter increased by 0.2% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.79. On average, research analysts expect Franklin Resources, Inc. to post EPS of 3.74 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.29 per share. The ex-dividend date is Wednesday, June 29. This represents a dividend of $1.16 on an annualized basis and a dividend yield of 4.90%. Franklin Resources’ dividend payout ratio (DPR) is currently 31.18%.

Several large investors have recently changed their positions in the company. Vanguard Group Inc. increased its position in shares of Franklin Resources by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 34,072,606 shares of the closed-end fund worth $951,307,000 after acquiring an additional 1,390,583 shares in the last quarter. BlackRock Inc. increased its position in shares of Franklin Resources by 7.0% during the 1st quarter. BlackRock Inc. now owns 28,906,180 shares of the closed-end fund valued at $807,062,000 after acquiring an additional 1,890,938 shares in the last quarter. State Street Corp raised its position in shares of Franklin Resources by 3.5% during the fourth quarter. State Street Corp now owns 27,532,069 shares of the closed-end fund valued at $929,900,000 after acquiring an additional 933,075 shares in the last quarter. Capital Research Global Investors increased its position in Franklin Resources shares by 0.9% during the first quarter. Capital Research Global Investors now owns 8,693,626 shares of the closed-end fund valued at $242,726,000 after acquiring an additional 80,446 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Franklin Resources by 30.9% during the 1st quarter. Invesco Ltd. now owns 5,507,038 shares of the closed-end fund valued at $153,758,000 after acquiring an additional 1,298,729 shares in the last quarter. Institutional investors hold 43.50% of the company’s shares.

A number of stock analysts have recently released reports on the company. Keefe, Bruyette & Woods downgraded Franklin Resources from a “market performance” rating to an “underperform” rating and lowered their price target for the stock from $28.00 to $22.00 in a report from Tuesday, June 28. Citigroup downgraded Franklin Resources from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $44.50 to $28.00 in a Tuesday, April 12 report. Deutsche Bank Aktiengesellschaft lowered its price target on Franklin Resources from $28.00 to $25.00 in a Thursday, May 19 report. BMO Capital Markets lowered its price target on Franklin Resources from $29.00 to $27.00 in a Wednesday, June 1 report. Finally, StockNews.com took over coverage from Franklin Resources in a Thursday, March 31 report. They issued a “hold” rating for the company. Three research analysts rated the stock with a sell rating and five gave the company a hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.29.

Franklin Resources Company Profile (Get an assessment)

Franklin Resources, Inc is a public asset management holding company. Through its subsidiaries, the firm offers its services to individuals, institutions, pension plans, trusts and partnerships. It launches equity, fixed income, balanced and multi-asset mutual funds through its subsidiaries.

Further reading

Insider buying and selling by quarter for Franklin Resources (NYSE:BEN)

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