Hsbc Holdings PLC reduced its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 15.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,867 shares of the closed-end fund’s stock after selling 51,079 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Franklin Resources worth $8,754,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp increased its position in Franklin Resources by 61.2% during the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock worth $134,000 after buying an additional 1,582 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Franklin Resources by 72.3% in the second 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 during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Franklin Resources by 7.7% in the second 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 during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Franklin Resources by 41.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 12,801 shares of the closed-end fund’s stock worth $410,000 after purchasing an additional 3,738 shares during the period. Finally, Comerica Bank increased its position in shares of Franklin Resources by 2.3% in the second quarter. Comerica Bank now owns 92,660 shares of the closed-end fund’s stock worth $2,975,000 after purchasing an additional 2,071 shares during the period. 47.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of Franklin Resources stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $32.42, for a total transaction of $10,471,660.00. Following the sale, the insider now directly owns 103,653,045 shares of the company’s stock, valued at $3,360,431,718.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig Steven Tyle sold 10,216 shares of Franklin Resources stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $34.26, for a total value of $350,000.16. The disclosure for this sale can be found here. Insiders sold 338,036 shares of company stock worth $10,979,997 over the last ninety days. 22.20% of the stock is currently owned by insiders.

A number of brokerages recently commented on BEN. Zacks Investment Research upgraded Franklin Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank decreased their price target on Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a research report on Thursday, August 16th. ValuEngine upgraded Franklin Resources from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 20th. JPMorgan Chase & Co. cut Franklin Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $32.00 to $29.00 in a research report on Thursday, September 6th. Finally, Morgan Stanley set a $29.00 price target on Franklin Resources and gave the stock a “sell” rating in a research report on Wednesday, November 14th. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.18.

NYSE:BEN opened at $33.27 on Thursday. The stock has a market capitalization of $17.07 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a twelve month low of $28.12 and a twelve month high of $45.96.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.39. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Franklin Resources had a return on equity of 16.26% and a net margin of 12.10%. Equities analysts predict that Franklin Resources, Inc. will post 2.84 EPS for the current fiscal year.

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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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