Franklin Resources (NYSE:BEN) EVP William Young Yun sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $53.08, for a total value of $318,480.00. Following the transaction, the executive vice president now directly owns 160,451 shares of the company’s stock, valued at approximately $8,516,739. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on BEN. Analysts at BMO Capital Markets raised their price target on shares of Franklin Resources (NYSE:BEN) from $56.00 to $58.00 in a research note to investors on Thursday, August 15th. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Franklin Resources (NYSE:BEN) from $56.00 to $58.00 in a research note to investors on Thursday, August 1st. Finally, analysts at Morgan Stanley cut their price target on shares of Franklin Resources (NYSE:BEN) from $52.00 to $51.00 in a research note to investors on Tuesday, July 30th.
Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Franklin Resources has a consensus rating of “Hold” and a consensus target price of $138.78.
Shares of Franklin Resources (NYSE:BEN) opened at 51.69 on Monday. Franklin Resources has a 52-week low of $41.0033 and a 52-week high of $56.54. The stock’s 50-day moving average is $48.17 and its 200-day moving average is $49.52. The company has a market cap of $32.834 billion and a P/E ratio of 15.51.
Franklin Resources (NYSE:BEN) last announced its earnings results on Monday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.01. The company had revenue of $2.08 million for the quarter, compared to the consensus estimate of $2.06 million. During the same quarter in the previous year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, analysts predict that Franklin Resources will post $3.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, September 26th. This is a boost from Franklin Resources’s previous quarterly dividend of $0.10.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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