Achmea Investment Management B.V. Has $2.86 Million Stake in Franklin Resources, Inc. (BEN)

Achmea Investment Management B.V. lowered its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 44.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,931 shares of the closed-end fund’s stock after selling 50,996 shares during the period. Achmea Investment Management B.V.’s holdings in Franklin Resources were worth $2,860,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BEN. Nordea Investment Management AB raised its stake in shares of Franklin Resources by 70.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock worth $75,684,000 after purchasing an additional 696,730 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Franklin Resources by 92.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,412,702 shares of the closed-end fund’s stock worth $63,289,000 after purchasing an additional 680,059 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Franklin Resources by 1,908.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 492,000 shares of the closed-end fund’s stock worth $22,037,000 after purchasing an additional 467,500 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Franklin Resources by 64.7% during the 1st quarter. AQR Capital Management LLC now owns 1,058,071 shares of the closed-end fund’s stock worth $44,587,000 after purchasing an additional 415,733 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Franklin Resources by 81.7% during the 2nd quarter. Principal Financial Group Inc. now owns 884,495 shares of the closed-end fund’s stock worth $39,617,000 after purchasing an additional 397,794 shares in the last quarter. Institutional investors own 44.95% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Achmea Investment Management B.V. Has $2.86 Million Stake in Franklin Resources, Inc. (BEN)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://ledgergazette.com/2017/10/20/achmea-investment-management-b-v-has-2-86-million-stake-in-franklin-resources-inc-ben.html.

Shares of Franklin Resources, Inc. (NYSE:BEN) traded up 0.67% on Friday, reaching $45.17. The company’s stock had a trading volume of 433,739 shares. The stock has a market cap of $25.19 billion, a P/E ratio of 14.70 and a beta of 1.72. Franklin Resources, Inc. has a 52-week low of $33.02 and a 52-week high of $47.65. The firm’s 50 day moving average is $43.54 and its 200-day moving average is $43.42.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. Franklin Resources’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. On average, equities research analysts forecast that Franklin Resources, Inc. will post $2.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. Franklin Resources’s dividend payout ratio (DPR) is currently 26.14%.

A number of equities research analysts have recently issued reports on BEN shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research note on Thursday, October 12th. Morgan Stanley reiterated an “underweight” rating and set a $40.00 price objective (up previously from $39.00) on shares of Franklin Resources in a research note on Monday, July 10th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, October 3rd. Deutsche Bank AG boosted their target price on Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rat

Several other institutional investors also recently made changes to their positions in BEN. Nordea Investment Management AB raised its stake in shares of Franklin Resources by 70.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock worth $75,684,000 after purchasing an additional 696,730 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Franklin Resources by 92.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,412,702 shares of the closed-end fund’s stock worth $63,289,000 after purchasing an additional 680,059 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Franklin Resources by 1,908.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 492,000 shares of the closed-end fund’s stock worth $22,037,000 after purchasing an additional 467,500 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Franklin Resources by 64.7% during the 1st quarter. AQR Capital Management LLC now owns 1,058,071 shares of the closed-end fund’s stock worth $44,587,000 after purchasing an additional 415,733 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Franklin Resources by 81.7% during the 2nd quarter. Principal Financial Group Inc. now owns 884,495 shares of the closed-end fund’s stock worth $39,617,000 after purchasing an additional 397,794 shares in the last quarter. Institutional investors own 44.95% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Achmea Investment Management B.V. Has $2.86 Million Stake in Franklin Resources, Inc. (BEN)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://ledgergazette.com/2017/10/20/achmea-investment-management-b-v-has-2-86-million-stake-in-franklin-resources-inc-ben.html.

Shares of Franklin Resources, Inc. (NYSE:BEN) traded up 0.67% on Friday, reaching $45.17. The company’s stock had a trading volume of 433,739 shares. The stock has a market cap of $25.19 billion, a P/E ratio of 14.70 and a beta of 1.72. Franklin Resources, Inc. has a 52-week low of $33.02 and a 52-week high of $47.65. The firm’s 50 day moving average is $43.54 and its 200-day moving average is $43.42.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. Franklin Resources’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. On average, equities research analysts forecast that Franklin Resources, Inc. will post $2.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. Franklin Resources’s dividend payout ratio (DPR) is currently 26.14%.

A number of equities research analysts have recently issued reports on BEN shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research note on Thursday, October 12th. Morgan Stanley reiterated an “underweight” rating and set a $40.00 price objective (up previously from $39.00) on shares of Franklin Resources in a research note on Monday, July 10th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, October 3rd. Deutsche Bank AG boosted their target price on Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub lowered Franklin Resources from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Franklin Resources presently has an average rating of “Hold” and an average target price of $44.36.

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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