AMP Capital Investors Ltd grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 294,497 shares of the closed-end fund’s stock after acquiring an additional 4,026 shares during the period. AMP Capital Investors Ltd’s holdings in Franklin Resources were worth $9,137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BEN. Dupont Capital Management Corp lifted its stake in 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 worth $134,000 after purchasing an additional 1,582 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Franklin Resources by 72.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 46,385 shares of the closed-end fund’s stock worth $1,487,000 after purchasing an additional 19,463 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Franklin Resources by 7.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,096,950 shares of the closed-end fund’s stock worth $35,157,000 after purchasing an additional 78,809 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Franklin Resources by 41.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 12,801 shares of the closed-end fund’s stock valued at $410,000 after buying an additional 3,738 shares during the period. Finally, Comerica Bank raised its position in shares of Franklin Resources by 2.3% during the 2nd quarter. Comerica Bank now owns 92,660 shares of the closed-end fund’s stock valued at $2,975,000 after buying an additional 2,071 shares during the period. 47.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Craig Steven Tyle sold 10,216 shares of Franklin Resources stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $34.26, for a total value of $350,000.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jed A. Plafker sold 4,820 shares of Franklin Resources stock in a transaction that occurred 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 completion of the sale, the insider now owns 56,369 shares of the company’s stock, valued at approximately $1,851,721.65. The disclosure for this sale can be found here. Insiders sold a total of 338,036 shares of company stock valued at $10,979,997 in the last quarter. 22.20% of the stock is owned by insiders.

BEN stock opened at $33.27 on Thursday. The company has a market cap of $17.39 billion, a PE ratio of 10.43, a PEG ratio of 1.19 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.71 and a current ratio of 3.71. Franklin Resources, Inc. has a one year low of $28.12 and a one year high of $45.96.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Thursday, October 25th. The closed-end fund reported $1.13 EPS for the quarter, beating the Thomson Reuters’ 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 16.26%. Analysts forecast that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

BEN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $32.00 to $29.00 in a research report on Thursday, September 6th. UBS Group reduced 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 report on Monday, October 8th. Deutsche Bank lifted their price target on shares of Franklin Resources from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, September 27th. Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Credit Suisse Group reduced their price target on shares of Franklin Resources from $28.00 to $26.00 and set an “underperform” rating on the stock in a research report on Friday, October 26th. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.18.

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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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