BEN has been the topic of a number of other reports. Deutsche Bank boosted their price target on Franklin Resources from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, September 27th. Morgan Stanley set a $29.00 price target on Franklin Resources and gave the stock a “sell” rating in a research report on Wednesday, November 14th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target on shares of Franklin Resources in a research report on Wednesday, January 9th. Zacks Investment Research raised Franklin Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, UBS Group dropped their price target on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, October 8th. Nine analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Franklin Resources presently has a consensus rating of “Sell” and an average target price of $29.84.
Franklin Resources stock traded up $0.08 during trading hours on Monday, hitting $30.41. 58,944 shares of the stock traded hands, compared to its average volume of 3,176,712. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.71 and a current ratio of 3.71. The stock has a market cap of $15.53 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.30 and a beta of 1.26. Franklin Resources has a one year low of $27.34 and a one year high of $45.96.
In related news, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $32.42, for a total value of $10,471,660.00. Following the completion of the transaction, the insider now directly owns 103,653,045 shares in the company, valued at approximately $3,360,431,718.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig Steven Tyle sold 10,216 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $34.26, for a total transaction of $350,000.16. The disclosure for this sale can be found here. 22.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BEN. Squar Milner Financial Services LLC purchased a new position in Franklin Resources in the 3rd quarter worth approximately $100,000. Focused Wealth Management Inc purchased a new position in Franklin Resources in the 2nd quarter worth approximately $131,000. Steward Partners Investment Advisory LLC raised its holdings in Franklin Resources by 196.4% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,301 shares of the closed-end fund’s stock worth $131,000 after acquiring an additional 2,850 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Franklin Resources in the 2nd quarter worth approximately $192,000. Finally, Smith Shellnut Wilson LLC ADV purchased a new position in Franklin Resources in the 3rd quarter worth approximately $204,000. Institutional investors own 47.90% of the company’s stock.
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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