Shares of the company are trading at $45.98 which is marginally higher than $43.20, the stock’s 50 day moving average and slightly over the 200 day moving average of $41.87. The 50 day moving average moved up $2.78 and the 200 day average moved up $4.11. Franklin Resources, Inc. shares had a trading volume of 3,109K by the end of trading on Thursday. Overall, volume was up 3.59% over the stocks normal daily volume.
Here is the rundown on market activity for Franklin Resources, Inc. (NYSE:BEN). EVP Kenneth A. Lewis disclosed the sale of 17,141 shares. The shares were purchased at an average price of $44.51. Lewis now owns $5,520,153 of the stock according to the SEC filing. President and COO Jennifer M. Johnson let go of 16,834 shares at an average price of $43.90 on Thu the 16th. The President and COO now owns $66,065,520 of the stock as recorded in a recent Form 4 SEC filing.
Chairman Gregory E. Johnson sold 25,000 shares at an average price of $43.18 on February 27th. That brings Johnson’s holdings to $91,898,655 as reported to the SEC.
The following firms have also recently changed their position in BEN. As of the end of the quarter Sprott Inc. had disposed of 500 shares trimming its position 0.2%. The value of the investment in Franklin Resources, Inc. went from $12,368,000 to $13,123,000 increasing 6.1% for the reporting period. Northwest Investment Counselors, LLC grew its holdings by buying 70 shares an increase of 0.2% as of 06/30/2017. Northwest Investment Counselors, LLC owns 41,939 shares worth $1,878,000. The total value of its holdings increased 6.5%.
Gateway Investment Advisers LLC augmented its stake by buying 34 shares an increase of 0.2%. Gateway Investment Advisers LLC claims 21,487 shares with a value of $962,000. The value of the position overall is up by 6.4%. Trust Department Mb Financial Bank N A downsized its position by shedding 1,019 shares a decrease of 7.0% from 03/31/2017 to 06/30/2017. Trust Department Mb Financial Bank N A now holds 13,571 shares valued at $608,000. The value of the position overall is down by 1.1%.
On November 10 the company was upgraded from “Sell” to “Neutral” with a current price target of $38.00 by UBS. On November 10 the stock rating was downgraded to “Sell” from “Hold” in a report issued by Deutsche Bank.
On November 9 the company was rated “Neutral” in a report from Bank of America a boost from the previous “Underperform” rating. On October 11 Jefferies made no change to the company rating of “Hold” and moved up the price target from $34.00 to $36.00.
On September 20 Citigroup kept the company rating at “Neutral” but raised the price expectation to $39.00 from $30.00. July 29 investment analysts at Barclays kept the stock rating at “Underweight” and lowered the price expectation from $31.00 to $30.00.
The company is now up by 1.28% since yesterday’s close of $45.4. Franklin Resources, Inc. declared a dividend payable on Friday July 14th, 2017. The dividend payment will be $0.200 per share for the quarter which is $0.80 annualized. This dividend represents a yield of $1.76. The ex-dividend date will be on Wednesday June 28th, 2017.
The company’s P/E ratio is 14.81 and the market cap of the company is 25.81B. In the last earnings report the EPS was $3.10 and is projected to be $2.92 for the current year with 561,316,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.71 with next year’s EPS anticipated to be $2.90.
Franklin Resources, Inc., launched on November 28, 1969, is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. The Company 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. The Company offers its investment products and services under the Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2 and LibertyShares brand names. The Business’s products include investment funds and institutional, high net-worth and separately managed accounts (collectively, sponsored investment products (SIPs)). The Company offers various types of SIPs, such as the United States funds, cross-border funds, local/regional funds, and other managed accounts, alternative investment products and trusts..