Alpha Windward LLC lessened its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 65.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,912 shares of the closed-end fund’s stock after selling 11,047 shares during the quarter. Alpha Windward LLC’s holdings in Franklin Resources were worth $256,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc acquired a new stake in Franklin Resources during the 2nd quarter valued at $123,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Franklin Resources during the 3rd quarter valued at $127,000. Chicago Equity Partners LLC acquired a new stake in Franklin Resources during the 3rd quarter valued at $209,000. Highbridge Capital Management LLC acquired a new stake in Franklin Resources during the 3rd quarter valued at $210,000. Finally, Colony Group LLC acquired a new stake in Franklin Resources during the 2nd quarter valued at $212,000. Hedge funds and other institutional investors own 44.80% of the company’s stock.
Franklin Resources, Inc. (NYSE BEN) opened at $44.89 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75. The firm has a market capitalization of $24,820.00, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.56 and a beta of 1.75. Franklin Resources, Inc. has a 52-week low of $39.38 and a 52-week high of $47.65.
Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. analysts predict that Franklin Resources, Inc. will post 3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 26th were given a $0.23 dividend. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, December 22nd. Franklin Resources’s dividend payout ratio (DPR) is 30.56%.
In related news, Chairman Gregory E. Johnson sold 56,825 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the transaction, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jed A. Plafker sold 7,790 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The disclosure for this sale can be found here. Insiders sold a total of 514,603 shares of company stock worth $22,134,429 over the last ninety days. Corporate insiders own 22.20% of the company’s stock.
BEN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $46.00 target price on shares of Franklin Resources in a report on Wednesday, November 1st. ValuEngine upgraded Franklin Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Citigroup lowered their target price on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Zacks Investment Research cut Franklin Resources from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, UBS Group raised their price objective on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.45.
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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.
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