Mitsubishi UFJ Trust & Banking Corp Sells 79,116 Shares of Franklin Resources, Inc. (BEN)
Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 690,273 shares of the closed-end fund’s stock after selling 79,116 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Franklin Resources worth $30,917,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Franklin Resources by 9.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 84,237 shares of the closed-end fund’s stock worth $3,773,000 after buying an additional 7,614 shares during 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 buying an additional 22,400 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Franklin Resources by 265.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 227,553 shares of the closed-end fund’s stock worth $10,193,000 after buying an additional 165,326 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Franklin Resources by 11.5% in the second quarter. GHP Investment Advisors Inc. now owns 48,012 shares of the closed-end fund’s stock worth $2,150,000 after buying an additional 4,957 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in shares of Franklin Resources by 128.4% in the second quarter. Great Lakes Advisors LLC now owns 27,638 shares of the closed-end fund’s stock worth $1,238,000 after buying an additional 15,538 shares during the last quarter. 44.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Franklin Resources, Inc. (NYSE BEN) opened at 43.23 on Friday. The stock has a market cap of $24.11 billion, a PE ratio of 14.07 and a beta of 1.73. Franklin Resources, Inc. has a 52 week low of $33.02 and a 52 week high of $47.65. The firm has a 50-day moving average of $44.15 and a 200 day moving average of $43.14.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, equities analysts forecast that Franklin Resources, Inc. will post $2.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, September 28th. Franklin Resources’s payout ratio is 26.14%.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price objective on shares of Franklin Resources in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. UBS AG reissued 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, Wells Fargo & Company cut shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research note on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.18.
In other Franklin Resources news, CFO Kenneth A. Lewis sold 17,141 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $44.51, for a total transaction of $762,945.91. Following the transaction, the chief financial officer now directly owns 124,021 shares of the company’s stock, valued at $5,520,174.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 21.60% of the company’s stock.
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.
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