Nordea Investment Management AB Acquires 169,958 Shares of Franklin Resources, Inc. (BEN)

Nordea Investment Management AB raised its holdings in Franklin Resources, Inc. (NYSE:BEN) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,859,712 shares of the closed-end fund’s stock after buying an additional 169,958 shares during the period. Nordea Investment Management AB owned approximately 0.34% of Franklin Resources worth $82,776,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its position in Franklin Resources by 16.1% in the 2nd quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after buying an additional 372 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in Franklin Resources in the 2nd quarter valued at approximately $123,000. Benjamin F. Edwards & Company Inc. purchased a new position in Franklin Resources in the 3rd quarter valued at approximately $127,000. First Midwest Bank Trust Division purchased a new position in Franklin Resources in the 2nd quarter valued at approximately $204,000. Finally, NBT Bank N A NY purchased a new position in Franklin Resources in the 2nd quarter valued at approximately $206,000. 46.43% of the stock is owned by institutional investors.

In other news, Chairman Gregory E. Johnson sold 56,825 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $42.83, for a total value of $2,433,814.75. Following the sale, the chairman now directly owns 2,047,273 shares in the company, valued at approximately $87,684,702.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.60% of the stock is currently owned by company insiders.

Several equities analysts have commented on the stock. ValuEngine cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $46.00 price target on shares of Franklin Resources in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. UBS AG raised their price target on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup Inc. decreased their price target on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.45.

Shares of Franklin Resources, Inc. (BEN) opened at $41.21 on Monday. Franklin Resources, Inc. has a fifty-two week low of $38.54 and a fifty-two week high of $47.65. The firm has a market cap of $22,826.55, a price-to-earnings ratio of 13.74, a PEG ratio of 1.41 and a beta of 1.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $0.82 EPS. The company’s revenue was up .3% on a year-over-year basis. sell-side analysts anticipate that Franklin Resources, Inc. will post 2.91 earnings per share for the current fiscal year.

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Franklin Resources Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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