Franklin Resources, Inc. (NYSE:BEN) Holdings Cut by Keybank National Association OH

Keybank National Association OH lowered its holdings in shares of Franklin Resources, Inc. (NYSE:BENFree Report) by 4.9% during the third quarter, Holdings Channel reports. The institutional investor owned 13,466 shares of the closed-end fund’s stock after selling 698 shares during the quarter. Keybank National Association OH’s holdings in Franklin Resources were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in Franklin Resources by 1.7% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 22,095 shares of the closed-end fund’s stock worth $590,000 after buying an additional 375 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Franklin Resources by 12.7% during the second quarter. Geneos Wealth Management Inc. now owns 3,373 shares of the closed-end fund’s stock worth $90,000 after purchasing an additional 379 shares in the last quarter. Peterson Financial Group Inc. grew its stake in shares of Franklin Resources by 1.4% during the second quarter. Peterson Financial Group Inc. now owns 31,702 shares of the closed-end fund’s stock valued at $847,000 after purchasing an additional 446 shares during the last quarter. Whitener Capital Management Inc. boosted its position in Franklin Resources by 2.4% in the 3rd quarter. Whitener Capital Management Inc. now owns 19,974 shares of the closed-end fund’s stock valued at $491,000 after buying an additional 460 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Franklin Resources by 2.0% during the third quarter. Park Avenue Securities LLC now owns 25,350 shares of the closed-end fund’s stock valued at $623,000 after acquiring an additional 485 shares during the period. Institutional investors own 46.53% of the company’s stock.

Franklin Resources Price Performance

NYSE:BEN opened at $26.83 on Friday. The stock has a market capitalization of $14.13 billion, a PE ratio of 14.12, a P/E/G ratio of 1.37 and a beta of 1.41. Franklin Resources, Inc. has a 1-year low of $21.88 and a 1-year high of $31.93. The firm has a fifty day simple moving average of $27.93 and a 200 day simple moving average of $26.15. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86.

Franklin Resources (NYSE:BENGet Free Report) last issued its earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm earned $0.51 EPS. Franklin Resources’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that Franklin Resources, Inc. will post 2.49 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Wednesday, March 27th. Franklin Resources’s payout ratio is presently 65.26%.

Insider Buying and Selling

In other Franklin Resources news, EVP Alok Sethi sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $25.38, for a total value of $634,500.00. Following the transaction, the executive vice president now directly owns 92,481 shares of the company’s stock, valued at approximately $2,347,167.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 24.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BEN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Morgan Stanley lifted their target price on shares of Franklin Resources from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Friday, January 19th. BMO Capital Markets raised their price target on Franklin Resources from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. Wells Fargo & Company upgraded Franklin Resources from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $24.00 to $30.00 in a report on Monday, January 8th. Finally, UBS Group raised their target price on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.05.

Check Out Our Latest Research Report on BEN

Franklin Resources Company Profile

(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.

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

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