Franklin Resources, Inc. (NYSE:BEN – Get Rating) Director Mariann H. Byerwalter sold 3,135 shares of Franklin Resources stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $23.37, for a total value of $73,264.95. Following the sale, the director now owns 11,523 shares of the company’s stock, valued at approximately $269,292.51. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of NYSE:BEN traded down $0.73 during trading on Thursday, hitting $23.05. The company had a trading volume of 132,929 shares, compared to its average volume of 3,214,786. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 6.16, a price-to-earnings-growth ratio of 4.16 and a beta of 1.13. Franklin Resources, Inc. has a one year low of $22.89 and a one year high of $38.27. The company has a fifty day simple moving average of $25.75 and a two-hundred day simple moving average of $29.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.13 and a quick ratio of 2.13.
Franklin Resources (NYSE:BEN – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The closed-end fund reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.17. Franklin Resources had a return on equity of 18.34% and a net margin of 22.02%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the business posted $0.79 EPS. The business’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 3.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.16 annualized dividend and a dividend yield of 5.03%. Franklin Resources’s dividend payout ratio (DPR) is presently 31.18%.
Several research firms have recently issued reports on BEN. Deutsche Bank Aktiengesellschaft reduced their target price on Franklin Resources from $28.00 to $25.00 in a research note on Thursday, May 19th. Morgan Stanley reduced their target price on Franklin Resources from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Friday, April 8th. StockNews.com started coverage on Franklin Resources in a research note on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets reduced their price target on Franklin Resources from $29.00 to $27.00 in a research note on Wednesday, June 1st. Finally, Citigroup cut Franklin Resources from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $44.50 to $28.00 in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc purchased a new stake in Franklin Resources during the 1st quarter worth approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Franklin Resources during the 1st quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in Franklin Resources during the 4th quarter worth approximately $29,000. National Bank of Canada FI purchased a new stake in Franklin Resources during the 4th quarter worth approximately $30,000. Finally, Denali Advisors LLC purchased a new stake in Franklin Resources during the 1st quarter worth approximately $31,000. 43.50% of the stock is owned by institutional investors.
Franklin Resources Company Profile (Get Rating)
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.