Franklin Resources, Inc. (NYSE:BEN) EVP Craig Steven Tyle sold 10,924 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.04, for a total transaction of $350,004.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BEN traded down $0.06 during midday trading on Wednesday, hitting $32.94. 76,810 shares of the company traded hands, compared to its average volume of 2,537,050. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.78 and a beta of 1.16. Franklin Resources, Inc. has a 52-week low of $27.34 and a 52-week high of $35.82.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, April 26th. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.08. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. Franklin Resources had a net margin of 26.10% and a return on equity of 14.24%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, research analysts forecast that Franklin Resources, Inc. will post 2.58 EPS for the current year.

Several analysts recently commented on the stock. TheStreet upgraded shares of Franklin Resources from a “c+” rating to a “b” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods lowered shares of Franklin Resources from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $34.00 to $33.00 in a research report on Monday, April 29th. Citigroup upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and raised their price target for the company from $28.00 to $35.00 in a research report on Monday, April 15th. Bank of America set a $32.00 price target on shares of Franklin Resources and gave the company a “sell” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.55.

A number of institutional investors and hedge funds have recently bought and sold shares of BEN. Bank of America Corp DE lifted its holdings in Franklin Resources by 526.8% during the fourth quarter. Bank of America Corp DE now owns 6,705,633 shares of the closed-end fund’s stock valued at $198,889,000 after purchasing an additional 5,635,864 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Franklin Resources by 17.1% in the third quarter. Vanguard Group Inc now owns 32,666,942 shares of the closed-end fund’s stock worth $993,402,000 after buying an additional 4,764,162 shares in the last quarter. London Co. of Virginia purchased a new position in shares of Franklin Resources in the fourth quarter worth about $107,975,000. Norges Bank purchased a new position in shares of Franklin Resources in the fourth quarter worth about $100,182,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Franklin Resources by 2,525.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,046,540 shares of the closed-end fund’s stock worth $69,000 after buying an additional 1,968,602 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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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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