MANA Advisors LLC purchased a new position in Franklin Resources, Inc. (NYSE:BEN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,035 shares of the closed-end fund’s stock, valued at approximately $435,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEN. JPMorgan Chase & Co. raised its position in shares of Franklin Resources by 225.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,153,748 shares of the closed-end fund’s stock worth $140,499,000 after acquiring an additional 2,184,863 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Franklin Resources by 138.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,372,129 shares of the closed-end fund’s stock worth $150,106,000 after acquiring an additional 1,959,427 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Franklin Resources by 35.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock worth $216,961,000 after acquiring an additional 1,288,818 shares in the last quarter. BlackRock Inc. raised its position in shares of Franklin Resources by 6.0% in the 4th quarter. BlackRock Inc. now owns 22,211,494 shares of the closed-end fund’s stock worth $962,425,000 after acquiring an additional 1,258,796 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Franklin Resources by 202.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,710,000 shares of the closed-end fund’s stock worth $74,094,000 after acquiring an additional 1,143,900 shares in the last quarter. 46.95% of the stock is owned by hedge funds and other institutional investors.
Franklin Resources, Inc. (BEN) opened at $38.99 on Friday. Franklin Resources, Inc. has a 1 year low of $37.01 and a 1 year high of $47.65. The stock has a market capitalization of $21,510.94, a PE ratio of 33.32, a P/E/G ratio of 1.32 and a beta of 1.64. 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 posted its quarterly earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.13. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. equities analysts predict that Franklin Resources, Inc. will post 3.26 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a dividend of $3.00 per share. This represents a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Franklin Resources’s previous special dividend of $0.50. Franklin Resources’s payout ratio is presently 78.63%.
BEN has been the subject of several recent research reports. ValuEngine raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday, January 11th. Deutsche Bank reduced their target price on Franklin Resources from $40.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, March 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 target price on shares of Franklin Resources in a research report on Friday, December 22nd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $43.40.
In other Franklin Resources news, Chairman Gregory E. Johnson sold 49,988 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total transaction of $2,178,477.04. Following the sale, the chairman now owns 2,116,886 shares in the company, valued at approximately $92,253,891.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jed A. Plafker sold 7,790 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $43.92, for a total value of $342,136.80. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by insiders.
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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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