Franklin Resources, Inc. (BEN) EVP Craig Steven Tyle Sells 10,216 Shares

Franklin Resources, Inc. (NYSE:BEN) EVP Craig Steven Tyle sold 10,216 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $34.26, for a total transaction of $350,000.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Craig Steven Tyle also recently made the following trade(s):

  • On Tuesday, September 4th, Craig Steven Tyle sold 11,165 shares of Franklin Resources stock. The shares were sold at an average price of $31.35, for a total transaction of $350,022.75.

NYSE BEN opened at $33.27 on Thursday. The stock has a market capitalization of $17.07 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 1.17 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.71 and a quick ratio of 3.71. Franklin Resources, Inc. has a 1-year low of $28.12 and a 1-year high of $45.96.

Franklin Resources (NYSE:BEN) last released its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.39. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Franklin Resources had a return on equity of 16.26% and a net margin of 12.10%. On average, sell-side analysts forecast that Franklin Resources, Inc. will post 2.84 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. Vanguard Group Inc. grew its position in Franklin Resources by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,666,942 shares of the closed-end fund’s stock valued at $993,402,000 after acquiring an additional 4,764,162 shares in the last quarter. Fiduciary Management Inc. WI acquired a new position in shares of Franklin Resources during the third quarter worth about $126,946,000. Abrams Capital Management L.P. grew its position in shares of Franklin Resources by 25.2% during the third quarter. Abrams Capital Management L.P. now owns 9,945,023 shares of the closed-end fund’s stock worth $302,428,000 after buying an additional 2,000,000 shares in the last quarter. Morgan Stanley grew its position in shares of Franklin Resources by 108.2% during the second quarter. Morgan Stanley now owns 3,197,116 shares of the closed-end fund’s stock worth $102,468,000 after buying an additional 1,661,189 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Franklin Resources by 27.4% during the third quarter. Bank of New York Mellon Corp now owns 4,340,194 shares of the closed-end fund’s stock worth $131,985,000 after buying an additional 932,439 shares in the last quarter. 47.83% of the stock is owned by institutional investors.

BEN has been the topic of several research analyst reports. Deutsche Bank reduced their price objective on shares of Franklin Resources from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Friday, November 16th. Zacks Investment Research raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. UBS Group dropped their target price on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, October 8th. Morgan Stanley set a $29.00 target price on Franklin Resources and gave the company a “sell” rating in a research report on Wednesday, November 14th. Finally, ValuEngine raised Franklin Resources from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 20th. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Franklin Resources has an average rating of “Hold” and a consensus price target of $34.18.

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About Franklin Resources

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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