Schwab Charles Investment Management Inc. Has $59.91 Million Position in Franklin Resources, Inc. (BEN)

Schwab Charles Investment Management Inc. boosted its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,346,004 shares of the closed-end fund’s stock after purchasing an additional 2,255 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.24% of Franklin Resources worth $59,911,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in Franklin Resources by 316.0% during the 2nd quarter. Acadian Asset Management LLC now owns 19,064 shares of the closed-end fund’s stock worth $854,000 after acquiring an additional 14,481 shares during the period. NGAM Advisors L.P. boosted its position in Franklin Resources by 0.6% during the 2nd quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock worth $1,134,000 after acquiring an additional 148 shares during the period. CAPROCK Group Inc. boosted its position in Franklin Resources by 6.1% during the 2nd quarter. CAPROCK Group Inc. now owns 5,292 shares of the closed-end fund’s stock worth $238,000 after acquiring an additional 305 shares during the period. Daiwa Securities Group Inc. boosted its position in Franklin Resources by 2.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 10,400 shares of the closed-end fund’s stock worth $466,000 after acquiring an additional 200 shares during the period. Finally, Sei Investments Co. boosted its position in Franklin Resources by 0.7% during the 2nd quarter. Sei Investments Co. now owns 211,433 shares of the closed-end fund’s stock worth $9,470,000 after acquiring an additional 1,548 shares during the period. Institutional investors and hedge funds own 44.77% of the company’s stock.

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a research note on Thursday, October 12th. Zacks Investment Research raised 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. Citigroup dropped their price objective on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Wells Fargo & Company dropped their price objective on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, October 27th. Finally, BidaskClub downgraded Franklin Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.45.

In related news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $42.95, for a total transaction of $17,180,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Gregory E. Johnson sold 56,825 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $42.83, for a total value of $2,433,814.75. Following the transaction, the chairman now directly owns 2,047,273 shares in the company, valued at $87,684,702.59. The disclosure for this sale can be found here. 21.60% of the stock is owned by insiders.

Shares of Franklin Resources, Inc. (NYSE BEN) opened at $44.62 on Tuesday. The stock has a market capitalization of $24,083.92, a price-to-earnings ratio of 14.49, a PEG ratio of 1.49 and a beta of 1.75. The company has a current ratio of 8.75, a quick ratio of 8.75 and a debt-to-equity ratio of 0.08. Franklin Resources, Inc. has a 52-week low of $38.93 and a 52-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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. Franklin Resources’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. research analysts anticipate that Franklin Resources, Inc. will post 2.92 EPS for the current fiscal year.

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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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