An insider with Franklin Resources, Inc. (NYSE:BEN) executed a transaction today that resulted in the lowering of their exposure to the company. Executive Vice President John M. Lusk sold 5,527 shares of common stock at an average price of $56.52 per share. Following this move, Lusk now directly holds 43,828.4903 shares, while indirectly having 73,80.3514 shares invested in the company. Moreover, Franklin Resources, Inc. (NYSE:BEN) is a $35.19 billion market cap holding company. Its investment management and related services provides services to investment funds in jurisdictions globally, which include the United States- and non-the United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts.
In addition, there are multiple hedge funds involved with the company. Jonathon Jacobson‘s Highfields Capital Management holds about 14.2 million shares worth around $823 million, while Ric Dillon‘s Diamond Hill Capitol holds approximately 3.36 million shares, worth nearly $195 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.