Mutual of America Capital Management LLC lessened its holdings in Franklin Resources, Inc. (NYSE:BEN) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,293 shares of the closed-end fund’s stock after selling 3,591 shares during the period. Mutual of America Capital Management LLC’s holdings in Franklin Resources were worth $1,703,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cerebellum GP LLC bought a new stake in Franklin Resources in the fourth quarter worth $125,000. Benjamin F. Edwards & Company Inc. bought a new stake in Franklin Resources in the third quarter worth $127,000. Chicago Equity Partners LLC bought a new stake in Franklin Resources in the third quarter worth $209,000. Highbridge Capital Management LLC bought a new stake in Franklin Resources in the third quarter worth $210,000. Finally, Colony Group LLC bought a new stake in Franklin Resources in the second quarter worth $212,000. Institutional investors own 45.19% of the company’s stock.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $46.00 price objective on shares of Franklin Resources in a research report on Wednesday, November 1st. Citigroup cut their price objective on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, UBS Group boosted their price objective on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $44.45.
In other news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jed A. Plafker sold 7,790 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $43.92, for a total transaction of $342,136.80. The disclosure for this sale can be found here. Insiders have sold 457,778 shares of company stock valued at $19,700,614 over the last three months. Insiders own 22.20% of the company’s stock.
Shares of Franklin Resources, Inc. (NYSE BEN) opened at $39.81 on Thursday. The stock has a market cap of $22,010.00, a price-to-earnings ratio of 33.74, a PEG ratio of 1.31 and a beta of 1.63. Franklin Resources, Inc. has a one year low of $37.01 and a one year high of $47.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28.
Franklin Resources (NYSE:BEN) last issued its earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.13. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a net margin of 10.44% and a return on equity of 13.88%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. sell-side analysts predict that Franklin Resources, Inc. will post 3.25 EPS for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be paid a dividend of $3.00 per share. This is a positive change from Franklin Resources’s previous special dividend of $0.50. Franklin Resources’s payout ratio is currently 77.97%.
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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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