Franklin Resources, Inc. (BEN) Vice Chairman Sells $17,180,000.00 in Stock

Franklin Resources, Inc. (NYSE:BEN) Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $42.95, for a total value of $17,180,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Franklin Resources, Inc. (BEN) opened at $44.29 on Thursday. The company has a market capitalization of $24,715.37, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.75. Franklin Resources, Inc. has a 12-month low of $38.93 and a 12-month high of $47.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.75 and a current ratio of 8.75.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. equities analysts expect that Franklin Resources, Inc. will post 2.92 EPS for the current year.

Several brokerages have recently weighed in on BEN. Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 target price on shares of Franklin Resources in a research report on Thursday, October 12th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, October 3rd. Citigroup cut their target price on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Wells Fargo & Company cut their target price on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Finally, BidaskClub lowered Franklin Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.45.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEN. PGGM Investments increased its holdings in shares of Franklin Resources by 13.3% in the third quarter. PGGM Investments now owns 869,933 shares of the closed-end fund’s stock valued at $38,721,000 after purchasing an additional 102,328 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Franklin Resources by 17.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 267,431 shares of the closed-end fund’s stock valued at $11,903,000 after purchasing an additional 39,878 shares during the period. Toronto Dominion Bank increased its holdings in shares of Franklin Resources by 8.3% in the third quarter. Toronto Dominion Bank now owns 126,061 shares of the closed-end fund’s stock valued at $5,610,000 after purchasing an additional 9,687 shares during the period. Andra AP fonden increased its holdings in shares of Franklin Resources by 71.3% in the second quarter. Andra AP fonden now owns 53,800 shares of the closed-end fund’s stock valued at $2,410,000 after purchasing an additional 22,400 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Franklin Resources by 35.2% in the second quarter. JPMorgan Chase & Co. now owns 968,885 shares of the closed-end fund’s stock valued at $43,395,000 after purchasing an additional 252,165 shares during the period. 44.77% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Franklin Resources, Inc. (BEN) Vice Chairman Sells $17,180,000.00 in Stock” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.com-unik.info/2017/12/07/franklin-resources-inc-ben-vice-chairman-sells-17180000-00-in-stock.html.

Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

What are top analysts saying about Franklin Resources Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Franklin Resources Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit