Franklin Resources(NYSE:BEN) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.63B. Analysts estimated a revenue of $1.63B. Earnings per share were $0.77. Analysts had estimated an EPS of $0.67.
In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on Franklin Resources. In the research note, the firm Lowers the price-target to $38.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 16, 2016, Deutsche Bank said it Maintains its rating on Franklin Resources. In the research note, the firm Lowers the price-target to $37.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 9, 2016, Barclays said it Maintains its rating on Franklin Resources. In the research note, the firm Lowers the price-target to $32.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jun 9, 2016, Citigroup said it Maintains its rating on Franklin Resources. In the research note, the firm Raises the price-target to $37.50 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 2, 2016, UBS said it Downgrades its rating on Franklin Resources. The shares have been rated ‘Sell’ by the firm.
Franklin Resources (BEN) shares turned negative on Thursdays trading session with the shares closing down -0.26 points or -0.73% at a volume of 31,49,346. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.8. The peak price level was also seen at $35.8 while the days lowest was $35.2499. Finally the shares closed at $35.38. The 52-week high of the shares is $45.71 while the 52-week low is $30.56. According to the latest information available, the market cap of the company is $20,383 M.
Several Insider Transactions has been reported to the SEC. On Dec 23, 2015, Jennifer M Johnson (Co-President) purchased 210 shares at $35.74 per share price.Also, On May 20, 2015, John M Lusk (EVP-Investment Management) sold 15,000 shares at $51.63 per share price.On Feb 3, 2015, Kenneth A Lewis (EVP and CFO) sold 3,000 shares at $53.04 per share price, according to the Form-4 filing with the securities and exchange commission.
Franklin Resources Inc. (Franklin) is a holding company. Franklin together with its various subsidiaries (collectively the Company) is referred to as Franklin Templeton Investments is a global investment management organization offering investment management and related services under the Franklin Templeton Mutual Series Bissett Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally which include the United States- and non- United States-registered open-end and closed-end funds unregistered funds and institutional high net-worth and separately-managed accounts. The Companys investment management and related services include fund administration shareholder services transfer agency underwriting distribution custodial trustee and other fiduciary services. Its sponsored investment products include a range of equity hybrid fixed-income and cash management funds and accounts including alternative investment products.