Macquarie Group Ltd. Lowers Position in Franklin Resources, Inc. (BEN)

Macquarie Group Ltd. reduced its position in Franklin Resources, Inc. (NYSE:BEN) by 20.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 75,481 shares of the closed-end fund’s stock after selling 19,738 shares during the period. Macquarie Group Ltd.’s holdings in Franklin Resources were worth $3,380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Franklin Resources by 16.1% during the second quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after buying an additional 372 shares during the period. First Midwest Bank Trust Division bought a new stake in shares of Franklin Resources during the second quarter valued at about $204,000. NBT Bank N A NY bought a new stake in shares of Franklin Resources during the second quarter valued at about $206,000. Global X Management Co. LLC increased its position in shares of Franklin Resources by 7.9% during the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after buying an additional 337 shares during the period. Finally, BB&T Securities LLC bought a new stake in shares of Franklin Resources during the second quarter valued at about $208,000. Institutional investors and hedge funds own 44.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Lowers Position in Franklin Resources, Inc. (BEN)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/21/macquarie-group-ltd-lowers-position-in-franklin-resources-inc-ben.html.

Shares of Franklin Resources, Inc. (BEN) opened at 45.07 on Friday. The firm has a 50-day moving average price of $43.59 and a 200 day moving average price of $43.45. Franklin Resources, Inc. has a 52 week low of $33.02 and a 52 week high of $47.65. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 14.67 and a beta of 1.72.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, September 28th. Franklin Resources’s payout ratio is 26.14%.

Several equities research analysts have recently weighed in on the company. Deutsche Bank AG upped their price target on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Thursday, July 6th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 1st. UBS AG reiterated a “neutral” rating and set a $45.00 price target (down from $46.00) on shares of Franklin Resources in a research report on Monday, July 31st. Finally, Morgan Stanley reiterated 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. Four equities research analyst

A number of other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Franklin Resources by 16.1% during the second quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after buying an additional 372 shares during the period. First Midwest Bank Trust Division bought a new stake in shares of Franklin Resources during the second quarter valued at about $204,000. NBT Bank N A NY bought a new stake in shares of Franklin Resources during the second quarter valued at about $206,000. Global X Management Co. LLC increased its position in shares of Franklin Resources by 7.9% during the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after buying an additional 337 shares during the period. Finally, BB&T Securities LLC bought a new stake in shares of Franklin Resources during the second quarter valued at about $208,000. Institutional investors and hedge funds own 44.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Lowers Position in Franklin Resources, Inc. (BEN)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/21/macquarie-group-ltd-lowers-position-in-franklin-resources-inc-ben.html.

Shares of Franklin Resources, Inc. (BEN) opened at 45.07 on Friday. The firm has a 50-day moving average price of $43.59 and a 200 day moving average price of $43.45. Franklin Resources, Inc. has a 52 week low of $33.02 and a 52 week high of $47.65. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 14.67 and a beta of 1.72.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, September 28th. Franklin Resources’s payout ratio is 26.14%.

Several equities research analysts have recently weighed in on the company. Deutsche Bank AG upped their price target on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Thursday, July 6th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 1st. UBS AG reiterated a “neutral” rating and set a $45.00 price target (down from $46.00) on shares of Franklin Resources in a research report on Monday, July 31st. Finally, Morgan Stanley reiterated 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. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target 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.

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

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