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.
TRADEMARK VIOLATION NOTICE: “Franklin Resources, Inc. (BEN) EVP Craig Steven Tyle Sells 10,216 Shares” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/12/06/franklin-resources-inc-ben-evp-craig-steven-tyle-sells-10216-shares.html.
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.
Featured Article: Purposes and Functions of the Federal Reserve
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.