First Quadrant L P CA lowered its stake in Franklin Resources, Inc. (NYSE:BEN) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,400 shares of the closed-end fund’s stock after selling 51 shares during the period. First Quadrant L P CA’s holdings in Franklin Resources were worth $2,257,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of BEN. Aperio Group LLC raised its position in Franklin Resources by 4.9% in the second quarter. Aperio Group LLC now owns 186,306 shares of the closed-end fund’s stock valued at $8,345,000 after buying an additional 8,641 shares during the last quarter. CWM LLC raised its position in Franklin Resources by 31.5% in the second quarter. CWM LLC now owns 665,239 shares of the closed-end fund’s stock valued at $29,796,000 after buying an additional 159,401 shares during the last quarter. Denali Advisors LLC raised its position in Franklin Resources by 11.8% in the second quarter. Denali Advisors LLC now owns 208,678 shares of the closed-end fund’s stock valued at $9,347,000 after buying an additional 22,000 shares during the last quarter. James Investment Research Inc. raised its position in Franklin Resources by 33.3% in the second quarter. James Investment Research Inc. now owns 124,252 shares of the closed-end fund’s stock valued at $5,566,000 after buying an additional 31,048 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Franklin Resources by 457.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 55,068 shares of the closed-end fund’s stock valued at $2,466,000 after buying an additional 45,186 shares during the last quarter. Institutional investors and hedge funds own 45.48% of the company’s stock.
Franklin Resources, Inc. (BEN) opened at 46.66 on Tuesday. The stock has a market cap of $26.19 billion, a PE ratio of 15.03 and a beta of 1.73. The stock has a 50 day moving average price of $44.84 and a 200-day moving average price of $42.56. Franklin Resources, Inc. has a 1-year low of $33.02 and a 1-year high of $47.05.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, April 28th. The closed-end fund reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. Franklin Resources had a return on equity of 14.34% and a net margin of 27.77%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Franklin Resources’s revenue was down .8% compared to the same quarter last year. On average, equities analysts expect that Franklin Resources, Inc. will post $2.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.80 annualized dividend and a yield of 1.71%. Franklin Resources’s dividend payout ratio (DPR) is currently 25.81%.
Several research firms recently issued reports on BEN. Wells Fargo & Company lowered Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a research report on Monday. Jefferies Group LLC restated a “hold” rating and set a $44.00 price target on shares of Franklin Resources in a research report on Friday, July 14th. BidaskClub upgraded Franklin Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Morgan Stanley restated an “underweight” rating and set a $40.00 price target (up from $39.00) on shares of Franklin Resources in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $42.82.
In other Franklin Resources news, CFO Kenneth A. Lewis sold 17,141 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $44.51, for a total transaction of $762,945.91. Following the sale, the chief financial officer now owns 124,021 shares of the company’s stock, valued at approximately $5,520,174.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.60% of the stock is owned by corporate insiders.
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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