Old Mutual Global Investors UK Ltd. Invests $567,000 in Franklin Resources, Inc. (BEN)

Old Mutual Global Investors UK Ltd. bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the 4th quarter, HoldingsChannel.com reports. The firm bought 13,100 shares of the closed-end fund’s stock, valued at approximately $567,000.

Several other large investors have also added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Franklin Resources by 5.2% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,760 shares of the closed-end fund’s stock worth $1,191,000 after purchasing an additional 1,322 shares in the last quarter. ETRADE Capital Management LLC grew its position in shares of Franklin Resources by 20.5% during the third quarter. ETRADE Capital Management LLC now owns 8,295 shares of the closed-end fund’s stock worth $369,000 after purchasing an additional 1,409 shares in the last quarter. Sei Investments Co. grew its position in shares of Franklin Resources by 0.7% during the third quarter. Sei Investments Co. now owns 212,846 shares of the closed-end fund’s stock worth $9,474,000 after purchasing an additional 1,413 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Franklin Resources by 2.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,358 shares of the closed-end fund’s stock worth $2,998,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Franklin Resources by 2.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 80,943 shares of the closed-end fund’s stock worth $3,603,000 after purchasing an additional 1,799 shares in the last quarter. Hedge funds and other institutional investors own 45.19% of the company’s stock.

Several analysts recently issued reports on the company. ValuEngine cut Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. 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. Citigroup cut their target price 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. Zacks Investment Research cut Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, UBS Group increased their price target on Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.45.

In other news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was 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 can be accessed through this hyperlink. Also, Chairman Gregory E. Johnson sold 49,988 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $43.58, for a total value of $2,178,477.04. Following the completion of the sale, the chairman now directly owns 2,116,886 shares of the company’s stock, valued at $92,253,891.88. The disclosure for this sale can be found here. Insiders sold a total of 457,778 shares of company stock valued at $19,700,614 over the last ninety days. Corporate insiders own 22.20% of the company’s stock.

Franklin Resources, Inc. (NYSE:BEN) opened at $39.10 on Friday. Franklin Resources, Inc. has a one year low of $37.01 and a one year high of $47.65. The company has a market capitalization of $21,571.63, a P/E ratio of 33.42, a P/E/G ratio of 1.32 and a beta of 1.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. equities analysts anticipate that Franklin Resources, Inc. will post 3.25 EPS for the current year.

The business also recently disclosed a special dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be paid a $3.00 dividend. This represents a dividend yield of 2.35%. This is a positive change from Franklin Resources’s previous special dividend of $0.50. The ex-dividend date is Wednesday, March 28th. Franklin Resources’s dividend payout ratio (DPR) is presently 78.63%.

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

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