Insider Selling: Franklin Resources, Inc. (NYSE:BEN) EVP Sells 5,000 Shares of Stock

Franklin Resources, Inc. (NYSE:BEN) EVP Craig Steven Tyle sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.57, for a total value of $137,850.00. Following the sale, the executive vice president now directly owns 113,793 shares of the company’s stock, valued at $3,137,273.01. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $26.01, for a total value of $130,050.00.

NYSE BEN traded down $0.51 during mid-day 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. Franklin Resources, Inc. has a 52-week low of $25.57 and a 52-week high of $35.82. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 1.51 and a beta of 1.21. The company has a 50 day simple moving average of $27.73 and a 200 day simple moving average of $30.33. 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 (NYSE:BEN) last released its quarterly earnings data on Friday, October 25th. The closed-end fund reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.03). Franklin Resources had a net margin of 20.71% and a return on equity of 12.28%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.6 earnings per share for the current fiscal year.

Several research firms have recently commented on BEN. JPMorgan Chase & Co. raised Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 price target for the company in a report on Thursday, September 12th. Morgan Stanley reduced their price target on Franklin Resources from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, October 8th. BMO Capital Markets began coverage on Franklin Resources in a report on Monday, October 7th. They issued an “underperform” rating and a $16.00 price target for the company. Barclays reissued a “sell” rating and issued a $24.00 price target on shares of Franklin Resources in a report on Wednesday, October 9th. Finally, ValuEngine raised Franklin Resources from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.92.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its stake in Franklin Resources by 232.6% in the 2nd quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock valued at $25,000 after purchasing an additional 507 shares in the last quarter. Rational Advisors LLC increased its stake in Franklin Resources by 5,760.0% in the 2nd quarter. Rational Advisors LLC now owns 879 shares of the closed-end fund’s stock valued at $31,000 after purchasing an additional 864 shares in the last quarter. Smith Asset Management Group LP purchased a new position in Franklin Resources in the 2nd quarter valued at approximately $32,000. Liberty Wealth Management LLC increased its position in Franklin Resources by 3,680.0% during the second quarter. Liberty Wealth Management LLC now owns 1,134 shares of the closed-end fund’s stock worth $39,000 after buying an additional 1,104 shares in the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in Franklin Resources during the second quarter worth $43,000. 48.67% of the stock is owned by hedge funds and other institutional investors.

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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