Franklin Resources, Inc. (BEN) Shares Sold by Keybank National Association OH
Keybank National Association OH lessened its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 93,306 shares of the closed-end fund’s stock after selling 3,724 shares during the period. Keybank National Association OH’s holdings in Franklin Resources were worth $4,153,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of Franklin Resources by 16.1% during the second quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock worth $120,000 after purchasing an additional 372 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Franklin Resources during the second quarter worth $123,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Franklin Resources during the third quarter worth $127,000. First Midwest Bank Trust Division bought a new stake in shares of Franklin Resources during the second quarter worth $204,000. Finally, NBT Bank N A NY bought a new stake in shares of Franklin Resources during the second quarter worth $206,000. Institutional investors own 45.43% of the company’s stock.
In other news, Chairman Gregory E. Johnson sold 56,825 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 21.60% of the company’s stock.
Franklin Resources, Inc. (NYSE BEN) opened at $41.33 on Friday. Franklin Resources, Inc. has a one year low of $36.88 and a one year high of $47.65. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $23,244.76, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.75.
Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a return on equity of 13.60% and a net margin of 26.54%. Franklin Resources’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. equities research analysts expect that Franklin Resources, Inc. will post 2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, September 28th. Franklin Resources’s dividend payout ratio is currently 26.67%.
Several equities analysts recently issued reports on the company. BidaskClub cut Franklin Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $46.00 price target on shares of Franklin Resources in a report on Wednesday, November 1st. UBS AG reiterated a “neutral” rating and issued a $45.00 price target (down previously from $46.00) on shares of Franklin Resources in a report on Monday, July 31st. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 1st. Finally, Citigroup Inc. decreased their price target on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $44.45.
Franklin Resources Profile
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.
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