Natixis trimmed its position in Franklin Resources, Inc. (NYSE:BEN) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,780 shares of the closed-end fund’s stock after selling 32,660 shares during the quarter. Natixis’ holdings in Franklin Resources were worth $5,282,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sigma Planning Corp grew its holdings in Franklin Resources by 8.0% in the 2nd quarter. Sigma Planning Corp now owns 9,241 shares of the closed-end fund’s stock valued at $322,000 after buying an additional 681 shares in the last quarter. Bingham Osborn & Scarborough LLC acquired a new stake in shares of Franklin Resources during the 2nd quarter worth $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 worth $6,496,000 after purchasing an additional 3,353 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Franklin Resources by 257.1% during the 2nd quarter. Janus Henderson Group PLC now owns 690,543 shares of the closed-end fund’s stock worth $24,029,000 after purchasing an additional 497,181 shares in the last quarter. Finally, 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 worth $3,528,000 after purchasing an additional 33,280 shares in the last quarter. 50.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BEN stock traded up $0.19 on Friday, hitting $29.98. 90,148 shares of the company’s stock were exchanged, compared to its average volume of 3,013,548. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.35 and a quick ratio of 3.35. Franklin Resources, Inc. has a 12 month low of $25.57 and a 12 month high of $35.82. The stock has a market cap of $14.33 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. The company has a 50 day moving average of $28.93 and a 200 day moving average of $32.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, September 27th. This represents a $1.04 annualized dividend and a dividend yield of 3.47%. Franklin Resources’s dividend payout ratio is currently 32.60%.
BEN has been the topic of several analyst reports. JPMorgan Chase & Co. raised Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 target price on the stock in a report on Thursday. TheStreet lowered Franklin Resources from a “b-” rating to a “c+” rating in a report on Friday, August 9th. ValuEngine lowered Franklin Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Barclays set a $27.00 target price on Franklin Resources and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Citigroup increased their target price on Franklin Resources from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.02.
In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $26.01, for a total value of $130,050.00. Following the completion of the transaction, the executive vice president now directly owns 100,009 shares in the company, valued at $2,601,234.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.20% of the stock is owned by corporate insiders.
Franklin Resources 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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