Banque Pictet & Cie SA trimmed its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,339 shares of the closed-end fund’s stock after selling 5,105 shares during the period. Banque Pictet & Cie SA’s holdings in Franklin Resources were worth $6,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. PGGM Investments grew its holdings in Franklin Resources by 13.3% in the third quarter. PGGM Investments now owns 869,933 shares of the closed-end fund’s stock valued at $38,721,000 after purchasing an additional 102,328 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Franklin Resources by 17.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 267,431 shares of the closed-end fund’s stock valued at $11,903,000 after acquiring an additional 39,878 shares in the last quarter. Andra AP fonden lifted its position in shares of Franklin Resources by 71.3% in the second quarter. Andra AP fonden now owns 53,800 shares of the closed-end fund’s stock valued at $2,410,000 after acquiring an additional 22,400 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Franklin Resources by 35.2% in the second quarter. JPMorgan Chase & Co. now owns 968,885 shares of the closed-end fund’s stock valued at $43,395,000 after acquiring an additional 252,165 shares in the last quarter. Finally, Contrarius Investment Management Ltd lifted its position in shares of Franklin Resources by 2.4% in the second quarter. Contrarius Investment Management Ltd now owns 543,258 shares of the closed-end fund’s stock valued at $24,333,000 after acquiring an additional 12,540 shares in the last quarter. 46.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franklin Resources, Inc. (NYSE BEN) traded down $0.08 during midday trading on Friday, hitting $40.48. The stock had a trading volume of 1,830,000 shares, compared to its average volume of 2,310,000. Franklin Resources, Inc. has a twelve month low of $38.54 and a twelve month high of $47.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 9.20 and a quick ratio of 9.20. The firm has a market capitalization of $22,380.00, a PE ratio of 13.61, a PEG ratio of 1.40 and a beta of 1.74.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. Franklin Resources had a return on equity of 13.60% and a net margin of 26.54%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up .3% on a year-over-year basis. analysts expect that Franklin Resources, Inc. will post 2.91 EPS for the current year.

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Several equities analysts have recently weighed in on the company. BidaskClub downgraded Franklin Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 target price on shares of Franklin Resources in a research report on Thursday, August 3rd. UBS AG reiterated a “neutral” rating and set a $45.00 price objective (down previously from $46.00) on shares of Franklin Resources in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Franklin Resources has an average rating of “Hold” and a consensus price target of $44.45.

In related news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the transaction, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.60% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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

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