WINTON GROUP Ltd trimmed its position in Franklin Resources, Inc. (NYSE:BEN) by 80.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,373 shares of the closed-end fund’s stock after selling 59,134 shares during the quarter. WINTON GROUP Ltd’s holdings in Franklin Resources were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Franklin Resources by 16.1% in the 2nd 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. Mountain Capital Investment Advisors Inc bought a new stake in Franklin Resources in the 2nd quarter valued at $123,000. Benjamin F. Edwards & Company Inc. bought a new stake in Franklin Resources in the 3rd quarter valued at $127,000. NBT Bank N A NY bought a new stake in Franklin Resources in the 2nd quarter valued at $206,000. Finally, BB&T Securities LLC bought a new stake in shares of Franklin Resources in the 2nd quarter worth about $208,000. Institutional investors and hedge funds own 44.77% of the company’s stock.
In other news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $42.95, for a total transaction of $17,180,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory E. Johnson sold 56,825 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the transaction, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The disclosure for this sale can be found here. 21.60% of the stock is owned by company insiders.
Shares of Franklin Resources, Inc. (BEN) opened at $43.46 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.75 and a current ratio of 8.75. The company has a market cap of $23,856.82, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.75. Franklin Resources, Inc. has a fifty-two week low of $38.93 and a fifty-two week high of $47.65.
Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. equities analysts anticipate that Franklin Resources, Inc. will post 2.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th will be paid a dividend of $0.23 per share. This is a boost from Franklin Resources’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, December 22nd. Franklin Resources’s dividend payout ratio (DPR) is currently 26.67%.
Several equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Wells Fargo & Company lowered their target price on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a report on Thursday, October 12th. Finally, Barclays began coverage on shares of Franklin Resources in a report on Friday, September 8th. They set an “underweight” rating and a $40.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Franklin Resources has a consensus rating of “Hold” and a consensus price target of $44.45.
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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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