Franklin Resources Sees Unusually Large Options Volume (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) was the target of some unusual options trading activity on Thursday. Stock traders bought 7,097 call options on the stock. This represents an increase of 736% compared to the average volume of 849 call options.

Franklin Resources Stock Up 1.9 %

NYSE:BEN traded up $0.44 during mid-day trading on Thursday, reaching $23.92. The stock had a trading volume of 1,180,067 shares, compared to its average volume of 3,781,685. Franklin Resources has a 1-year low of $21.88 and a 1-year high of $30.32. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44. The stock’s 50 day simple moving average is $26.32 and its two-hundred day simple moving average is $26.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.82.

Franklin Resources (NYSE:BEN) last announced its earnings results on Monday, April 29th. The closed-end fund reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts anticipate that Franklin Resources will post 2.47 EPS for the current year.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds have recently made changes to their positions in the stock. Peoples Bank KS bought a new stake in shares of Franklin Resources during the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in Franklin Resources by 240.5% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after acquiring an additional 623 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Franklin Resources by 975.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock worth $28,000 after purchasing an additional 1,034 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of Franklin Resources during the 4th quarter worth approximately $31,000. Finally, Headlands Technologies LLC acquired a new position in shares of Franklin Resources during the 1st quarter worth approximately $32,000. Institutional investors own 47.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BEN shares. Morgan Stanley lifted their price target on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. Evercore ISI reduced their price target on Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on Franklin Resources from $29.00 to $24.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, UBS Group lifted their price target on Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

About Franklin Resources

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.