Hutchinson Capital Management CA purchased a new stake in Franklin Resources, Inc. (NYSE:BEN) in the second quarter, HoldingsChannel.com reports. The fund purchased 275,002 shares of the closed-end fund’s stock, valued at approximately $8,814,000. Franklin Resources comprises about 2.7% of Hutchinson Capital Management CA’s investment portfolio, making the stock its 19th biggest position.

Other large investors have also made changes to their positions in the company. Dupont Capital Management Corp lifted its holdings in shares of Franklin Resources by 61.2% in the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock valued at $134,000 after acquiring an additional 1,582 shares during the last quarter. IMS Capital Management bought a new stake in Franklin Resources in the second quarter worth about $161,000. Elmwood Wealth Management Inc. bought a new stake in Franklin Resources in the first quarter worth about $164,000. Brighton Jones LLC bought a new stake in Franklin Resources in the second quarter worth about $213,000. Finally, Vantage Financial Partners Ltd. Inc. bought a new stake in Franklin Resources in the first quarter worth about $222,000. 46.33% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Monday, April 30th. Barclays decreased their price objective on shares of Franklin Resources from $40.00 to $32.00 and set an “underweight” rating for the company in a research note on Monday, April 23rd. Wells Fargo & Co decreased their price objective on shares of Franklin Resources from $35.00 to $34.00 and set a “market perform” rating for the company in a research note on Monday, July 30th. ValuEngine downgraded shares of Franklin Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Morgan Stanley decreased their price objective on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating for the company in a research note on Thursday, August 2nd. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $38.00.

Shares of NYSE:BEN opened at $32.72 on Friday. The company has a market cap of $16.91 billion, a PE ratio of 10.87, a P/E/G ratio of 1.59 and a beta of 1.56. Franklin Resources, Inc. has a one year low of $31.28 and a one year high of $45.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 3.37.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, July 27th. The closed-end fund reported $0.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.75. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.57 billion. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. sell-side analysts anticipate that Franklin Resources, Inc. will post 3.14 earnings per share for the current year.

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

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