KCG Holdings Inc. lowered its stake in Franklin Resources, Inc. (NYSE:BEN) by 45.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,239 shares of the closed-end fund’s stock after selling 6,849 shares during the period. KCG Holdings Inc.’s holdings in Franklin Resources were worth $347,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BEN. Federated Investors Inc. PA boosted its position in Franklin Resources by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 9,148 shares of the closed-end fund’s stock valued at $362,000 after buying an additional 56 shares during the period. River & Mercantile Asset Management LLP bought a new stake in shares of Franklin Resources during the fourth quarter valued at $2,173,000. Teachers Advisors LLC increased its stake in shares of Franklin Resources by 5.8% in the fourth quarter. Teachers Advisors LLC now owns 542,960 shares of the closed-end fund’s stock valued at $21,490,000 after buying an additional 29,824 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Franklin Resources during the fourth quarter valued at $997,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Franklin Resources during the fourth quarter valued at $445,000. Institutional investors own 45.55% of the company’s stock.
Shares of Franklin Resources, Inc. (NYSE:BEN) opened at 46.81 on Friday. The company has a 50-day moving average of $44.62 and a 200 day moving average of $42.47. The stock has a market cap of $26.28 billion, a P/E ratio of 15.08 and a beta of 1.73. Franklin Resources, Inc. has a 52-week low of $33.02 and a 52-week high of $47.05.
Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, April 28th. The closed-end fund reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Franklin Resources had a net margin of 27.77% and a return on equity of 14.34%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. Equities research analysts forecast that Franklin Resources, Inc. will post $2.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, June 28th. Franklin Resources’s dividend payout ratio is presently 25.81%.
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Several analysts have recently weighed in on BEN shares. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub upgraded shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Citigroup Inc. restated a “neutral” rating and set a $43.00 price objective (up previously from $42.00) on shares of Franklin Resources in a research report on Friday, June 9th. Credit Suisse Group restated a “sell” rating and set a $37.00 price objective on shares of Franklin Resources in a research report on Friday, April 7th. Finally, Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Franklin Resources in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Franklin Resources has a consensus rating of “Hold” and an average target price of $42.10.
In other Franklin Resources news, CFO Kenneth A. Lewis sold 17,141 shares of Franklin Resources stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $44.51, for a total value of $762,945.91. Following the completion of the transaction, the chief financial officer now owns 124,021 shares of the company’s stock, valued at $5,520,174.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 21.60% of the company’s stock.
Franklin Resources Company Profile
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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