New York State Common Retirement Fund Has $6.64 Million Stake in Franklin Resources, Inc. (NYSE:BEN)

New York State Common Retirement Fund decreased its position in Franklin Resources, Inc. (NYSE:BENFree Report) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,221 shares of the closed-end fund’s stock after selling 31,901 shares during the quarter. New York State Common Retirement Fund’s holdings in Franklin Resources were worth $6,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC increased its position in shares of Franklin Resources by 90.9% in the third quarter. Metis Global Partners LLC now owns 16,996 shares of the closed-end fund’s stock valued at $418,000 after acquiring an additional 8,095 shares during the last quarter. Barclays PLC increased its position in shares of Franklin Resources by 138.0% in the third quarter. Barclays PLC now owns 1,750,779 shares of the closed-end fund’s stock valued at $43,034,000 after acquiring an additional 1,015,225 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Franklin Resources in the third quarter valued at about $475,000. Equitable Trust Co. increased its position in shares of Franklin Resources by 13.7% in the third quarter. Equitable Trust Co. now owns 34,564 shares of the closed-end fund’s stock valued at $850,000 after acquiring an additional 4,152 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at about $36,000. Institutional investors and hedge funds own 46.53% of the company’s stock.

Insider Activity at Franklin Resources

In related news, EVP Alok Sethi sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $29.27, for a total value of $643,940.00. Following the completion of the sale, the executive vice president now directly owns 70,481 shares in the company, valued at $2,062,978.87. The sale was disclosed in a filing with the SEC, which is available at this link. 24.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BEN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Franklin Resources from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $24.00 to $30.00 in a research report on Monday, January 8th. UBS Group boosted their price target on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Finally, Morgan Stanley boosted their price target on Franklin Resources from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Friday, January 19th. 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 stock currently has a consensus rating of “Hold” and an average target price of $27.05.

View Our Latest Stock Report on BEN

Franklin Resources Trading Up 1.0 %

Shares of BEN stock opened at $27.10 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. The stock has a market cap of $14.27 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.38 and a beta of 1.41. The stock has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $26.11. Franklin Resources, Inc. has a 1 year low of $21.88 and a 1 year high of $31.93.

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

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Wednesday, March 27th. Franklin Resources’s dividend payout ratio (DPR) is currently 65.26%.

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.

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

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