QUANTRES ASSET MANAGEMENT Ltd Buys Shares of 7,300 Franklin Resources, Inc. (BEN)

QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,300 shares of the closed-end fund’s stock, valued at approximately $222,000.

Other large investors have also made changes to their positions in the company. Pinebridge Investments L.P. acquired a new stake in shares of Franklin Resources during the 2nd quarter worth approximately $471,000. Royal London Asset Management Ltd. acquired a new stake in shares of Franklin Resources during the 2nd quarter worth approximately $4,272,000. Insight 2811 Inc. boosted its position in shares of Franklin Resources by 63.4% during the 2nd quarter. Insight 2811 Inc. now owns 26,554 shares of the closed-end fund’s stock worth $851,000 after acquiring an additional 10,300 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Franklin Resources by 115.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 158,400 shares of the closed-end fund’s stock worth $5,077,000 after acquiring an additional 84,790 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Franklin Resources by 24.5% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,808 shares of the closed-end fund’s stock worth $571,000 after acquiring an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 47.01% of the company’s stock.

BEN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $32.00 to $29.00 in a research report on Thursday, September 6th. Deutsche Bank increased their price target on shares of Franklin Resources from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, September 27th. UBS Group reduced their price target on shares of Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, October 8th. Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Morgan Stanley reduced their price target on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday, August 2nd. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $34.27.

Shares of NYSE:BEN opened at $31.00 on Friday. The company has a market capitalization of $16.33 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.24 and a beta of 1.49. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a one year low of $28.12 and a one year high of $45.96.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Thursday, October 25th. The closed-end fund reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.39. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.00%. On average, research analysts forecast that Franklin Resources, Inc. will post 2.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.97%. The ex-dividend date was Thursday, September 27th. Franklin Resources’s payout ratio is 28.84%.

In related news, EVP Craig Steven Tyle sold 11,165 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total value of $350,022.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jed A. Plafker sold 4,820 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 56,369 shares of the company’s stock, valued at approximately $1,851,721.65. The disclosure for this sale can be found here. 22.20% of the stock is owned by corporate insiders.

Franklin Resources 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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