Insider Selling: John M. Lusk Sells 14,704 Shares of Franklin Resources Stock (BEN)
Franklin Resources (NYSE:BEN) EVP John M. Lusk sold 14,704 shares of Franklin Resources stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $55.74, for a total transaction of $819,600.96. Following the completion of the sale, the executive vice president now directly owns 49,288 shares in the company, valued at approximately $2,747,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
BEN has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Franklin Resources in a research note on Thursday, July 31st. They now have a $58.00 price target on the stock, down previously from $61.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Franklin Resources in a research note on Thursday, July 31st. They now have a $58.00 price target on the stock, down previously from $60.00. Finally, analysts at Morgan Stanley cut their price target on shares of Franklin Resources from $63.00 to $61.00 in a research note on Thursday, July 31st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Franklin Resources currently has an average rating of “Hold” and an average price target of $60.67.
Shares of Franklin Resources (NYSE:BEN) traded up 0.61% on Wednesday, hitting $55.64. The stock had a trading volume of 1,554,375 shares. Franklin Resources has a 1-year low of $45.06 and a 1-year high of $58.87. The stock has a 50-day moving average of $56.10 and a 200-day moving average of $54.46. The company has a market cap of $34.791 billion and a P/E ratio of 15.49.
Franklin Resources (NYSE:BEN) last announced its earnings results on Wednesday, July 30th. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.95 by $0.03. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Franklin Resources will post $3.73 earnings per share for the current fiscal year.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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