Northwestern Mutual Investment Management Company LLC reduced its position in shares of Franklin Resources Inc. (NYSE:BEN) by 1.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,060 shares of the closed-end fund’s stock after selling 197 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Franklin Resources were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in shares of Franklin Resources by 1,520.5% in the second quarter. Acadian Asset Management LLC now owns 3,160 shares of the closed-end fund’s stock valued at $105,000 after buying an additional 2,965 shares in the last quarter. FTB Advisors Inc. boosted its position in shares of Franklin Resources by 8.4% in the second quarter. FTB Advisors Inc. now owns 3,208 shares of the closed-end fund’s stock valued at $107,000 after buying an additional 248 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Franklin Resources by 21.1% in the second quarter. Van ECK Associates Corp now owns 3,347 shares of the closed-end fund’s stock valued at $112,000 after buying an additional 583 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Franklin Resources by 426.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,352 shares of the closed-end fund’s stock valued at $179,000 after buying an additional 4,335 shares in the last quarter. Finally, Alpha Windward LLC boosted its position in shares of Franklin Resources by 24.5% in the second quarter. Alpha Windward LLC now owns 5,438 shares of the closed-end fund’s stock valued at $181,000 after buying an additional 1,071 shares in the last quarter. Hedge funds and other institutional investors own 48.39% of the company’s stock.

Shares of Franklin Resources Inc. (NYSE:BEN) opened at 35.10 on Monday. Franklin Resources Inc. has a one year low of $30.56 and a one year high of $42.23. The firm’s 50-day moving average is $35.98 and its 200-day moving average is $36.29. The stock has a market capitalization of $20.22 billion, a PE ratio of 12.99 and a beta of 1.75.

Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, July 28th. The closed-end fund reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Franklin Resources had a net margin of 23.44% and a return on equity of 12.98%. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. On average, analysts expect that Franklin Resources Inc. will post $2.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, September 28th. Franklin Resources’s dividend payout ratio (DPR) is 26.57%.

BEN has been the topic of several research analyst reports. Deutsche Bank AG reiterated a “hold” rating on shares of Franklin Resources in a research report on Sunday, July 10th. Jefferies Group reduced their price target on shares of Franklin Resources from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, July 11th. Keefe, Bruyette & Woods boosted their price target on shares of Franklin Resources from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Citigroup Inc. boosted their price target on shares of Franklin Resources from $37.50 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, June 9th. Finally, Barclays PLC reiterated a “sell” rating on shares of Franklin Resources in a research report on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.81.

In other news, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $36.18, for a total value of $180,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer M. Johnson sold 15,892 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $35.99, for a total transaction of $571,953.08. Following the completion of the sale, the insider now owns 1,473,782 shares in the company, valued at $53,041,414.18. The disclosure for this sale can be found here. Company insiders own 20.41% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.

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