DekaBank Deutsche Girozentrale boosted its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 45.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,267 shares of the closed-end fund’s stock after purchasing an additional 20,465 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Franklin Resources were worth $2,867,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. PGGM Investments raised its holdings in shares of Franklin Resources by 13.3% during the third quarter. PGGM Investments now owns 869,933 shares of the closed-end fund’s stock valued at $38,721,000 after acquiring an additional 102,328 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Franklin Resources by 17.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 267,431 shares of the closed-end fund’s stock worth $11,903,000 after acquiring an additional 39,878 shares in the last quarter. Toronto Dominion Bank grew its position in Franklin Resources by 8.3% in the third quarter. Toronto Dominion Bank now owns 126,061 shares of the closed-end fund’s stock worth $5,610,000 after acquiring an additional 9,687 shares in the last quarter. Andra AP fonden grew its position in Franklin Resources by 71.3% in the second quarter. Andra AP fonden now owns 53,800 shares of the closed-end fund’s stock worth $2,410,000 after acquiring an additional 22,400 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Franklin Resources by 35.2% in the second quarter. JPMorgan Chase & Co. now owns 968,885 shares of the closed-end fund’s stock worth $43,395,000 after acquiring an additional 252,165 shares in the last quarter. 44.77% of the stock is owned by institutional investors and hedge funds.
Shares of Franklin Resources, Inc. (NYSE BEN) traded up $0.21 during trading on Thursday, hitting $44.50. 1,544,189 shares of the company were exchanged, compared to its average volume of 2,250,489. The firm has a market cap of $24,455.04, a PE ratio of 14.72, a P/E/G ratio of 1.51 and a beta of 1.75. The company has a quick ratio of 8.75, a current ratio of 8.75 and a debt-to-equity ratio of 0.08. Franklin Resources, Inc. has a 1-year low of $38.93 and a 1-year high of $47.65.
Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. equities analysts predict that Franklin Resources, Inc. will post 2.92 EPS for the current year.
Several analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 target price on shares of Franklin Resources in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, October 3rd. Citigroup decreased their price objective on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Wells Fargo & Company reduced their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Finally, BidaskClub downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Franklin Resources has an average rating of “Hold” and a consensus price target of $44.45.
In related news, Chairman Gregory E. Johnson sold 56,825 shares of Franklin Resources stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the transaction, the chairman now owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Friday, December 1st. The stock was sold at an average price of $42.95, for a total transaction of $17,180,000.00. The disclosure for this sale can be found here. Company insiders own 21.60% of the company’s stock.
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Franklin Resources Company 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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