Winslow Asset Management Inc. decreased its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,528 shares of the closed-end fund’s stock after selling 24,430 shares during the period. Winslow Asset Management Inc.’s holdings in Franklin Resources were worth $4,833,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BEN. JPMorgan Chase & Co. boosted its position in Franklin Resources by 35.2% during the second quarter. JPMorgan Chase & Co. now owns 968,885 shares of the closed-end fund’s stock valued at $43,395,000 after purchasing an additional 252,165 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Franklin Resources by 0.5% in the second quarter. Franklin Resources Inc. now owns 1,095,039 shares of the closed-end fund’s stock worth $49,047,000 after buying an additional 4,971 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its position in shares of Franklin Resources by 22.9% in the second quarter. Aberdeen Asset Management PLC UK now owns 107,728 shares of the closed-end fund’s stock worth $4,826,000 after buying an additional 20,060 shares during the last quarter. Martingale Asset Management L P acquired a new stake in shares of Franklin Resources in the second quarter worth about $607,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Franklin Resources by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,244 shares of the closed-end fund’s stock worth $235,000 after buying an additional 116 shares during the last quarter. 44.72% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Jed A. Plafker sold 7,790 shares of Franklin Resources stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of Franklin Resources stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $42.95, for a total value of $17,180,000.00. The disclosure for this sale can be found here. Insiders sold 514,603 shares of company stock worth $22,134,429 over the last quarter. 22.20% of the stock is currently owned by corporate insiders.
Franklin Resources, Inc. (NYSE:BEN) traded down $0.39 during trading on Thursday, hitting $43.27. The stock had a trading volume of 4,639,500 shares, compared to its average volume of 2,542,514. The company has a quick ratio of 8.75, a current ratio of 8.75 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $23,960.00, a price-to-earnings ratio of 14.38, a PEG ratio of 2.33 and a beta of 1.75. Franklin Resources, Inc. has a twelve month low of $39.38 and a twelve month high of $47.65.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. analysts predict that Franklin Resources, Inc. will post 3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, December 22nd. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.13%. Franklin Resources’s payout ratio is presently 30.56%.
A number of brokerages have weighed in on BEN. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday. ValuEngine raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. UBS Group boosted their price target on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $46.00 price target on shares of Franklin Resources in a research report on Wednesday, November 1st. Finally, Citigroup reduced their price target on 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 analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Franklin Resources presently has a consensus rating of “Hold” and an average target price of $44.45.
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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.
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