SFE Investment Counsel boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 23.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,305 shares of the closed-end fund’s stock after acquiring an additional 5,685 shares during the period. SFE Investment Counsel’s holdings in Franklin Resources were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Squar Milner Financial Services LLC acquired a new position in Franklin Resources during the 3rd quarter valued at approximately $100,000. Captrust Financial Advisors increased its stake in Franklin Resources by 605.1% during the 2nd quarter. Captrust Financial Advisors now owns 3,187 shares of the closed-end fund’s stock valued at $103,000 after purchasing an additional 2,735 shares in the last quarter. Focused Wealth Management Inc acquired a new position in Franklin Resources during the 2nd quarter valued at approximately $131,000. Steward Partners Investment Advisory LLC increased its stake in Franklin Resources by 196.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,301 shares of the closed-end fund’s stock valued at $131,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Dupont Capital Management Corp increased its stake in Franklin Resources by 61.2% during the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock valued at $134,000 after purchasing an additional 1,582 shares in the last quarter. 47.01% of the stock is owned by institutional investors.
A number of research analysts have issued reports on BEN shares. Deutsche Bank upped their price target on shares of Franklin Resources from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, September 27th. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and cut their price target for the company from $32.00 to $29.00 in a research note on Thursday, September 6th. Morgan Stanley cut their price target on shares of Franklin Resources from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, July 12th. Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Finally, UBS Group cut their price target on shares of Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, October 8th. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Franklin Resources has an average rating of “Hold” and an average target price of $34.27.
Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.39. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.00%. Equities analysts anticipate that Franklin Resources, Inc. will post 2.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.98%. Franklin Resources’s payout ratio is currently 28.84%.
In related news, insider Jed A. Plafker sold 4,820 shares of the firm’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $32.85, for a total transaction of $158,337.00. Following the sale, the insider now owns 56,369 shares in the company, valued at $1,851,721.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Craig Steven Tyle sold 11,165 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total transaction of $350,022.75. The disclosure for this sale can be found here. 22.20% of the stock is owned by corporate insiders.
Franklin Resources Company Profile
Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.
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