273 hedge funds sold their entire positions in Franklin Resources, Inc. (BEN)

Franklin Resources, Inc. (NYSE:BEN) went up to recover about 4.41% since recording its record low price of $32.41. The stock experienced 2.08% jump, arriving at $33.84 on 04/16/2018. During the day, the stock price traveled from $33.26 to $33.985. This company shares are 8.89% off its target price of $36.85 and the current market capitalization stands at $18.78B. The recent change has given its price a -4.27% deficit over SMA 50 and -22.83% deficit over its 52-week high. The stock witnessed -4.88% declines, -17.42% declines and -17.92% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found BEN’s volatility during a week at 2.15% and during a month it has been found around 2.62%.

Franklin Resources, Inc. (BEN) Top Holders

Institutional investors currently hold around $8.59 billion or 48% in BEN stock. Look at its top three institutional owners. Vanguard Group Inc owns $906.36 million in Franklin Resources, Inc., which represents roughly 4.83% of the company’s market cap and approximately 10.56% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 22,211,494 shares of the stock are valued at $736.31 million. The third largest holder is State Street Corp, which currently holds $616.21 million worth of this stock and that ownership represents nearly 3.28% of its market capitalization.

Franklin Resources, Inc. 13F Filings

At the end of 12/31/2017 reporting period, 270 institutional holders increased their position in Franklin Resources, Inc. (NYSE:BEN) by some 29,292,686 shares, 273 decreased positions by 20,809,235 and 103 held positions by 208,931,006. That puts total institutional holdings at 259,032,927 shares, according to SEC filings. The stock grabbed 94 new institutional investments totaling 3,053,037 shares while 50 institutional investors sold out their entire positions totaling 1,657,307 shares.

Franklin Resources, Inc. (NYSE:BEN) Insider Trades

Multiple company employees have indulged in significant insider trading. Franklin Resources, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Reg. S-K Executive Officer Plafker Jed A. has sold 7,790 shares of Franklin Resources, Inc. (BEN) in trading session dated Dec. 21, 2017. These shares are worth $342,137 and were traded at $43.92 each. The SEC filing shows that Johnson Gregory E performed a sale of 49,988 shares. The Chairman and CEO disposed these shares by way of transaction on Dec. 19, 2017. The company’s shares were given away at $43.58 per share worth to an income of some $2,178,477 on account of Johnson Gregory E.

Vice Chairman, 10% Owner, Johnson Rupert H Jr, sold 400,000 common shares of Franklin Resources, Inc. (BEN) in the open market. In a transaction dated Dec. 01, 2017, the shares were put up for sale at an average price of $42.95, raking in a sum of $17,180,000. After this sale, 104,765,771 common shares of BEN are directly owned by the insider, with total stake valued at $3,545,273,691.

In the transaction dated Oct. 30, 2017, the great number of shares disposed came courtesy the Chairman and CEO; Johnson Gregory E disposed a total of 56,825 shares at an average price of $42.83, amounting to approximately $2,433,815. The insider now directly owns 5,109,909 shares worth $172,919,321.

Franklin Resources, Inc. (BEN) Analyst Guide

Several analysts have released their opinion on Franklin Resources, Inc. (NYSE:BEN), with 0 analysts believing it is a strong buy. Whereas 7 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 2 strong sell ratings, collectively assigning a 3.37 average brokerage recommendation.