Schaper Benz & Wise Investment Counsel Inc. WI Lowers Stake in Franklin Resources, Inc. (NYSE:BEN)

Schaper Benz & Wise Investment Counsel Inc. WI lowered its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 260,132 shares of the closed-end fund’s stock after selling 3,795 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI owned 0.05% of Franklin Resources worth $9,053,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BEN. BLB&B Advisors LLC grew its holdings in shares of Franklin Resources by 5.4% during the 1st quarter. BLB&B Advisors LLC now owns 9,265 shares of the closed-end fund’s stock valued at $307,000 after purchasing an additional 475 shares during the last quarter. Bingham Osborn & Scarborough LLC bought a new position in shares of Franklin Resources during the 2nd quarter valued at $208,000. Aperio Group LLC grew its holdings in shares of Franklin Resources by 1.8% during the 2nd quarter. Aperio Group LLC now owns 186,653 shares of the closed-end fund’s stock valued at $6,496,000 after purchasing an additional 3,353 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Franklin Resources by 48.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 101,378 shares of the closed-end fund’s stock valued at $3,528,000 after purchasing an additional 33,280 shares during the last quarter. Finally, S&CO Inc. bought a new position in shares of Franklin Resources during the 1st quarter valued at $3,116,000. Hedge funds and other institutional investors own 48.31% of the company’s stock.

Several equities analysts recently commented on BEN shares. ValuEngine lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Keefe, Bruyette & Woods lowered shares of Franklin Resources from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $33.00 in a report on Monday, April 29th. JPMorgan Chase & Co. increased their target price on shares of Franklin Resources from $33.00 to $34.00 and gave the company an “underweight” rating in a report on Friday, July 12th. TheStreet lowered shares of Franklin Resources from a “b-” rating to a “c+” rating in a report on Friday, August 9th. Finally, Citigroup increased their target price on shares of Franklin Resources from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Sell” and a consensus target price of $31.18.

Franklin Resources stock traded up $0.07 during trading hours on Monday, reaching $27.44. The stock had a trading volume of 77,038 shares, compared to its average volume of 3,858,292. The stock has a market cap of $13.60 billion, a PE ratio of 8.60, a PEG ratio of 1.49 and a beta of 1.17. Franklin Resources, Inc. has a 52 week low of $26.85 and a 52 week high of $35.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.35 and a quick ratio of 3.35. The company has a fifty day simple moving average of $33.25 and a 200-day simple moving average of $33.22.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Tuesday, July 30th. The closed-end fund reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Franklin Resources had a return on equity of 13.43% and a net margin of 23.80%. Franklin Resources’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. Research analysts predict that Franklin Resources, Inc. will post 2.59 earnings per share for the current fiscal year.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,924 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.04, for a total value of $350,004.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 23.90% of the stock is owned by company insiders.

About Franklin Resources

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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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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