Representative Thomas H. Kean, Jr. (R-New Jersey) recently sold shares of Franklin Resources, Inc. NYSE: BEN. In a filing disclosed on May 15th, the Representative disclosed that they had sold between $1,001 and $15,000 in Franklin Resources stock on April 28th. The trade occurred in the Representative's "KEAN FAMILY PARTNERSHIP" account.
Representative Thomas H. Kean, Jr. also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/24/2025.
- Purchased $1,001 - $15,000 in shares of Prologis NYSE: PLD on 4/24/2025.
- Purchased $1,001 - $15,000 in shares of Fiserv NYSE: FI on 4/24/2025.
- Purchased $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 4/24/2025.
- Purchased $1,001 - $15,000 in shares of First Citizens BancShares NASDAQ: FCNCA on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of First Citizens BancShares NASDAQ: FCNCA on 4/10/2025.
- Sold $1,001 - $15,000 in shares of Fortive NYSE: FTV on 4/10/2025.
- Purchased $1,001 - $15,000 in shares of Canadian Pacific Kansas City NYSE: CP on 4/10/2025.
- Purchased $1,001 - $15,000 in shares of Illumina NASDAQ: ILMN on 4/1/2025.
- Purchased $1,001 - $15,000 in shares of nVent Electric NYSE: NVT on 4/1/2025.
Franklin Resources Price Performance
Shares of BEN traded down $0.55 during midday trading on Wednesday, reaching $21.62. The stock had a trading volume of 3,630,148 shares, compared to its average volume of 4,349,367. Franklin Resources, Inc. has a 52 week low of $16.25 and a 52 week high of $24.37. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. The firm's 50 day moving average price is $19.37 and its 200-day moving average price is $20.27. The company has a market capitalization of $11.36 billion, a P/E ratio of 33.27, a P/E/G ratio of 2.31 and a beta of 1.39.
Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The company's quarterly revenue was down 6.2% compared to the same quarter last year. On average, analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.
Franklin Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.92%. Franklin Resources's dividend payout ratio is presently 188.24%.
Institutional Trading of Franklin Resources
Several hedge funds have recently added to or reduced their stakes in BEN. Envestnet Asset Management Inc. raised its holdings in Franklin Resources by 230.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 291,821 shares of the closed-end fund's stock valued at $5,921,000 after acquiring an additional 203,414 shares in the last quarter. Twelve Points Wealth Management LLC raised its holdings in shares of Franklin Resources by 20.5% in the 4th quarter. Twelve Points Wealth Management LLC now owns 159,738 shares of the closed-end fund's stock worth $3,241,000 after buying an additional 27,169 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Franklin Resources by 34.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 93,789 shares of the closed-end fund's stock worth $1,903,000 after acquiring an additional 24,204 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Franklin Resources by 139.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 29,829 shares of the closed-end fund's stock worth $605,000 after acquiring an additional 17,376 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in Franklin Resources by 5.3% during the 4th quarter. Sound Income Strategies LLC now owns 543,875 shares of the closed-end fund's stock worth $11,035,000 after acquiring an additional 27,607 shares during the last quarter. Institutional investors own 47.56% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a research report on Monday, May 5th. TD Cowen raised Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Wednesday, May 14th. Morgan Stanley dropped their price target on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.25.
Read Our Latest Stock Analysis on Franklin Resources
About Representative Kean
Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey's 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2027.
Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey's 7th Congressional District. He declared candidacy for the 2026 election.
Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.
Franklin Resources Company Profile
(
Get Free Report)
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.
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