Franklin Resources Target of Unusually High Options Trading (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) saw unusually large options trading activity on Monday. Traders acquired 8,645 put options on the company. This is an increase of approximately 267% compared to the average volume of 2,357 put options.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BEN. TD Cowen upped their target price on Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a report on Monday, July 29th. Barclays began coverage on shares of Franklin Resources in a research note on Tuesday, August 27th. They set an “underweight” rating and a $20.00 price objective on the stock. Evercore ISI decreased their target price on shares of Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, UBS Group dropped their price target on shares of Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average target price of $23.00.

Insiders Place Their Bets

In related news, major shareholder Charles B. Johnson acquired 100,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $19.08 per share, with a total value of $1,908,000.00. Following the purchase, the insider now directly owns 89,308,192 shares of the company’s stock, valued at $1,704,000,303.36. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Franklin Resources news, CEO Jennifer M. Johnson acquired 12,700 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the purchase, the chief executive officer now directly owns 2,637,700 shares in the company, valued at $51,857,182. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Charles B. Johnson bought 100,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $19.08 per share, for a total transaction of $1,908,000.00. Following the purchase, the insider now owns 89,308,192 shares in the company, valued at approximately $1,704,000,303.36. The disclosure for this purchase can be found here. Insiders have purchased a total of 231,600 shares of company stock valued at $4,537,637 over the last quarter. Company insiders own 24.13% of the company’s stock.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. Headlands Technologies LLC acquired a new stake in shares of Franklin Resources during the 1st quarter valued at $32,000. Principal Securities Inc. acquired a new position in shares of Franklin Resources in the 4th quarter valued at $35,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources in the 2nd quarter worth about $27,000. Sentry Investment Management LLC acquired a new stake in Franklin Resources during the 2nd quarter worth about $30,000. Finally, Trust Co. of Vermont purchased a new stake in Franklin Resources during the fourth quarter valued at about $45,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Performance

BEN traded down $0.06 during trading on Monday, reaching $20.75. 1,335,851 shares of the company were exchanged, compared to its average volume of 3,989,493. Franklin Resources has a 52 week low of $18.94 and a 52 week high of $30.32. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $21.47 and a 200 day moving average of $23.45. The stock has a market cap of $10.92 billion, a P/E ratio of 11.89, a PEG ratio of 2.45 and a beta of 1.39.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, sell-side analysts forecast that Franklin Resources will post 2.41 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.31 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 5.98%. Franklin Resources’s dividend payout ratio is presently 70.86%.

Franklin Resources Company Profile

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.