Franklin Resources, Inc. (BEN) Holdings Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Franklin Resources, Inc. (NYSE:BEN) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,561 shares of the closed-end fund’s stock after buying an additional 30,000 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Franklin Resources were worth $8,882,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BEN. Vanguard Group Inc. boosted its stake in shares of Franklin Resources by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock valued at $1,220,459,000 after purchasing an additional 318,449 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Franklin Resources by 1.2% in the 2nd quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock valued at $957,127,000 after purchasing an additional 249,766 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Franklin Resources by 2.4% in the 2nd quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock valued at $463,506,000 after purchasing an additional 246,306 shares in the last quarter. Kiltearn Partners LLP boosted its stake in shares of Franklin Resources by 0.8% in the 2nd quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock valued at $274,057,000 after purchasing an additional 50,100 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Franklin Resources by 35.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after purchasing an additional 1,288,818 shares in the last quarter. 44.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on BEN. ValuEngine upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $46.00 target price on shares of Franklin Resources in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. UBS lifted their target price on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup cut their target price on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.45.

Franklin Resources, Inc. (NYSE:BEN) opened at $44.67 on Monday. The stock has a market cap of $24,743.07, a P/E ratio of 14.89, a PEG ratio of 2.45 and a beta of 1.75. Franklin Resources, Inc. has a 1 year low of $38.93 and a 1 year high of $47.65. 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 released its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. Franklin Resources’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. equities research analysts forecast that Franklin Resources, Inc. will post 2.92 earnings per share for the current fiscal year.

In other news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of Franklin Resources stock in a transaction on Friday, December 1st. The shares were sold at an average price of $42.95, for a total value of $17,180,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gregory E. Johnson sold 56,825 shares of Franklin Resources stock in a transaction 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 completion of the sale, the chairman now owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

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About Franklin Resources

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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