Franklin Resources Sees Unusually High Options Volume (BEN)
Franklin Resources, Inc. (NYSE:BEN) was the recipient of some unusual options trading activity on Tuesday. Investors bought 1,200 call options on the company. This is an increase of 1,054% compared to the average volume of 104 call options.
Shares of Franklin Resources (BEN) opened at $41.40 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.75 and a current ratio of 8.75. The stock has a market cap of $23,031.49, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.43 and a beta of 1.75. Franklin Resources has a 1-year low of $38.54 and a 1-year high of $47.65.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. Franklin Resources’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. analysts anticipate that Franklin Resources will post 2.91 earnings per share for the current year.
In related news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the transaction, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its holdings in shares of Franklin Resources by 16.1% during the 2nd quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock worth $120,000 after buying an additional 372 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in shares of Franklin Resources during the 2nd quarter worth $123,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Franklin Resources during the 3rd quarter worth $127,000. First Midwest Bank Trust Division bought a new stake in shares of Franklin Resources during the 2nd quarter worth $204,000. Finally, NBT Bank N A NY bought a new stake in shares of Franklin Resources during the 2nd quarter worth $206,000. 46.43% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on BEN. ValuEngine downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $46.00 target price on shares of Franklin Resources in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. UBS Group AG boosted their target price on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup Inc. decreased their target price on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Franklin Resources currently has a consensus rating of “Hold” and a consensus target price of $44.45.
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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.
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