B.O.S.S. Retirement Advisors LLC Sells 6,478 Shares of Franklin Resources, Inc. (NYSE:BEN)

B.O.S.S. Retirement Advisors LLC lowered its stake in shares of Franklin Resources, Inc. (NYSE:BENFree Report) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,868 shares of the closed-end fund’s stock after selling 6,478 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in Franklin Resources were worth $1,786,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Franklin Resources by 63.4% in the 1st quarter. American Century Companies Inc. now owns 74,206 shares of the closed-end fund’s stock valued at $2,072,000 after acquiring an additional 28,795 shares during the period. Private Advisor Group LLC grew its stake in Franklin Resources by 24.8% in the 1st quarter. Private Advisor Group LLC now owns 11,477 shares of the closed-end fund’s stock valued at $320,000 after buying an additional 2,277 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Franklin Resources by 23.5% in the 1st quarter. MetLife Investment Management LLC now owns 76,665 shares of the closed-end fund’s stock worth $2,140,000 after purchasing an additional 14,580 shares during the period. Panagora Asset Management Inc. boosted its stake in Franklin Resources by 89.2% in the 1st quarter. Panagora Asset Management Inc. now owns 36,852 shares of the closed-end fund’s stock worth $1,029,000 after purchasing an additional 17,376 shares during the period. Finally, Rhumbline Advisers boosted its stake in Franklin Resources by 4.0% in the 1st quarter. Rhumbline Advisers now owns 489,475 shares of the closed-end fund’s stock worth $13,666,000 after purchasing an additional 18,645 shares during the period. Institutional investors own 46.53% of the company’s stock.

Franklin Resources Stock Up 0.1 %

Shares of NYSE BEN traded up $0.03 during midday trading on Friday, hitting $26.25. The stock had a trading volume of 3,211,496 shares, compared to its average volume of 3,332,585. Franklin Resources, Inc. has a 52 week low of $20.24 and a 52 week high of $34.37. The business’s 50 day moving average is $27.48 and its 200-day moving average is $26.72. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.90. The company has a market cap of $13.10 billion, a P/E ratio of 16.41 and a beta of 1.30.

Franklin Resources (NYSE:BENGet Free Report) last released its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Franklin Resources had a return on equity of 10.43% and a net margin of 10.51%. Franklin Resources’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. As a group, analysts predict that Franklin Resources, Inc. will post 2.39 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.20 annualized dividend and a dividend yield of 4.57%. Franklin Resources’s payout ratio is 75.00%.

Wall Street Analysts Forecast Growth

BEN has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Franklin Resources from $25.50 to $26.00 in a report on Thursday, July 13th. The Goldman Sachs Group boosted their target price on Franklin Resources from $21.50 to $24.50 and gave the stock a “sell” rating in a research report on Tuesday, August 1st. Morgan Stanley raised their price target on Franklin Resources from $23.00 to $24.00 and gave the company an “underweight” rating in a report on Tuesday, August 8th. BMO Capital Markets upped their price objective on shares of Franklin Resources from $24.00 to $27.00 in a research report on Monday, July 31st. Finally, StockNews.com assumed coverage on shares of Franklin Resources in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $25.25.

Get Our Latest Research Report on BEN

About Franklin Resources

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BENFree Report).

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

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.