Franklin Resources, Inc. (NYSE:BEN - Get Free Report) saw unusually large options trading activity on Monday. Traders acquired 8,645 put options on the company. This is an increase of approximately 267% compared to the average volume of 2,357 put options.
Several brokerages have recently weighed in on BEN. TD Cowen upped their target price on Franklin Resources from $23.00 to $24.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Franklin Resources from $24.00 to $23.00 and set a "hold" rating for the company in a report on Monday, July 29th. Barclays began coverage on shares of Franklin Resources in a research note on Tuesday, August 27th. They set an "underweight" rating and a $20.00 price objective on the stock. Evercore ISI decreased their target price on shares of Franklin Resources from $24.00 to $20.00 and set an "underperform" rating for the company in a research note on Thursday, September 5th. Finally, UBS Group dropped their price target on shares of Franklin Resources from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Franklin Resources currently has an average rating of "Hold" and an average target price of $23.00.
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In related news, major shareholder Charles B. Johnson acquired 100,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $19.08 per share, with a total value of $1,908,000.00. Following the purchase, the insider now directly owns 89,308,192 shares of the company's stock, valued at $1,704,000,303.36. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Franklin Resources news, CEO Jennifer M. Johnson acquired 12,700 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the purchase, the chief executive officer now directly owns 2,637,700 shares in the company, valued at $51,857,182. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Charles B. Johnson bought 100,000 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $19.08 per share, for a total transaction of $1,908,000.00. Following the purchase, the insider now owns 89,308,192 shares in the company, valued at approximately $1,704,000,303.36. The disclosure for this purchase can be found here. Insiders have purchased a total of 231,600 shares of company stock valued at $4,537,637 over the last quarter. Company insiders own 24.13% of the company's stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. Headlands Technologies LLC acquired a new stake in shares of Franklin Resources during the 1st quarter valued at $32,000. Principal Securities Inc. acquired a new position in shares of Franklin Resources in the 4th quarter valued at $35,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources in the 2nd quarter worth about $27,000. Sentry Investment Management LLC acquired a new stake in Franklin Resources during the 2nd quarter worth about $30,000. Finally, Trust Co. of Vermont purchased a new stake in Franklin Resources during the fourth quarter valued at about $45,000. Institutional investors own 47.56% of the company's stock.
BEN traded down $0.06 during trading on Monday, reaching $20.75. 1,335,851 shares of the company were exchanged, compared to its average volume of 3,989,493. Franklin Resources has a 52 week low of $18.94 and a 52 week high of $30.32. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $21.47 and a 200 day moving average of $23.45. The stock has a market cap of $10.92 billion, a P/E ratio of 11.89, a PEG ratio of 2.45 and a beta of 1.39.
Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, sell-side analysts forecast that Franklin Resources will post 2.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.31 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 5.98%. Franklin Resources's dividend payout ratio is presently 70.86%.
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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