TD Asset Management Inc. lessened its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 10.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,962 shares of the closed-end fund’s stock after selling 14,075 shares during the period. TD Asset Management Inc.’s holdings in Franklin Resources were worth $5,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BEN. PGGM Investments increased its stake in shares of Franklin Resources by 13.3% in the third quarter. PGGM Investments now owns 869,933 shares of the closed-end fund’s stock worth $38,721,000 after purchasing an additional 102,328 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake 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 worth $11,903,000 after purchasing an additional 39,878 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Franklin Resources by 8.3% in the third quarter. Toronto Dominion Bank now owns 126,061 shares of the closed-end fund’s stock worth $5,610,000 after purchasing an additional 9,687 shares in the last quarter. Andra AP fonden increased its stake 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 worth $2,410,000 after purchasing an additional 22,400 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake 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 worth $43,395,000 after purchasing an additional 252,165 shares in the last quarter. Institutional investors and hedge funds own 44.77% of the company’s stock.

In other Franklin Resources news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of Franklin Resources stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $42.95, for a total transaction of $17,180,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gregory E. Johnson sold 56,825 shares of Franklin Resources stock in a transaction that occurred on Monday, October 30th. The shares were 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 disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

BEN has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 target price on shares of Franklin Resources in a research note on Thursday, October 12th. Wells Fargo & Company cut their price objective on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 27th. Citigroup cut their price objective on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.45.

Franklin Resources, Inc. (NYSE:BEN) traded down $0.47 during mid-day trading on Wednesday, hitting $44.15. 2,239,700 shares of the stock were exchanged, compared to its average volume of 2,252,555. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75. Franklin Resources, Inc. has a one year low of $38.93 and a one year high of $47.65. The company has a market capitalization of $24,715.37, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.53 and a beta of 1.75.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $0.82 earnings per share. Franklin Resources’s revenue was up .3% compared to the same quarter last year. analysts anticipate that Franklin Resources, Inc. will post 2.92 EPS for the current fiscal year.

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Franklin Resources Company 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.

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

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