Hutchinson Capital Management CA Has $8.55 Million Stake in Franklin Resources, Inc. (BEN)

Hutchinson Capital Management CA increased its holdings in Franklin Resources, Inc. (NYSE:BEN) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,231 shares of the closed-end fund’s stock after buying an additional 6,229 shares during the period. Franklin Resources accounts for 2.4% of Hutchinson Capital Management CA’s holdings, making the stock its 19th largest position. Hutchinson Capital Management CA owned 0.05% of Franklin Resources worth $8,552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in Franklin Resources by 605.1% in the second quarter. Captrust Financial Advisors now owns 3,187 shares of the closed-end fund’s stock valued at $103,000 after acquiring an additional 2,735 shares during the last quarter. Squar Milner Financial Services LLC bought a new position in Franklin Resources in the third quarter valued at approximately $100,000. Focused Wealth Management Inc bought a new position in Franklin Resources in the second quarter valued at approximately $131,000. Dupont Capital Management Corp increased its stake in Franklin Resources by 61.2% in the second quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock valued at $134,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Franklin Resources by 196.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 4,301 shares of the closed-end fund’s stock valued at $131,000 after acquiring an additional 2,850 shares during the last quarter. Institutional investors own 47.01% of the company’s stock.

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, July 30th. Wells Fargo & Co decreased their price objective on shares of Franklin Resources from $35.00 to $34.00 and set a “market perform” rating on the stock in a research note on Monday, July 30th. Zacks Investment Research raised shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, August 24th. Morgan Stanley decreased their price objective on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, August 2nd. Finally, Deutsche Bank decreased their price objective on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.27.

In other Franklin Resources news, insider Jed A. Plafker sold 4,820 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $32.85, for a total transaction of $158,337.00. Following the sale, the insider now owns 56,369 shares of the company’s stock, valued at $1,851,721.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig Steven Tyle sold 11,165 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The disclosure for this sale can be found here. Insiders own 22.20% of the company’s stock.

NYSE BEN opened at $30.50 on Thursday. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 1.24 and a beta of 1.49. Franklin Resources, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $45.96. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07.

Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.39. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.00%. As a group, sell-side analysts predict that Franklin Resources, Inc. will post 2.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.02%. Franklin Resources’s payout ratio is presently 28.84%.

Franklin Resources Company Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.

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

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