Moody National Bank Trust Division grew its stake in Franklin Resources, Inc. (NYSE:BEN – Free Report) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,611 shares of the closed-end fund’s stock after purchasing an additional 1,438 shares during the quarter. Moody National Bank Trust Division’s holdings in Franklin Resources were worth $256,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Franklin Resources by 250.7% in the second quarter. AQR Capital Management LLC now owns 2,450,190 shares of the closed-end fund’s stock worth $54,664,000 after purchasing an additional 1,751,587 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Franklin Resources by 263.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock valued at $40,744,000 after buying an additional 1,465,148 shares during the period. Marshall Wace LLP boosted its holdings in shares of Franklin Resources by 517.5% in the 2nd quarter. Marshall Wace LLP now owns 1,406,324 shares of the closed-end fund’s stock valued at $31,431,000 after buying an additional 1,178,594 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Franklin Resources by 44.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock worth $60,421,000 after acquiring an additional 925,590 shares during the period. Finally, Millennium Management LLC lifted its holdings in Franklin Resources by 110.3% in the second quarter. Millennium Management LLC now owns 1,623,236 shares of the closed-end fund’s stock worth $36,279,000 after acquiring an additional 851,442 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.
Insiders Place Their Bets
In related news, insider Franklin Resources Inc sold 7,900 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $43.71, for a total transaction of $345,309.00. Following the completion of the sale, the insider now directly owns 36,519 shares in the company, valued at approximately $1,596,245.49. This trade represents a 17.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.90% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on BEN
Franklin Resources Trading Up 1.2 %
Shares of NYSE:BEN opened at $19.64 on Thursday. The company has a 50 day moving average of $21.25 and a 200-day moving average of $21.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The firm has a market cap of $10.29 billion, a P/E ratio of 22.84, a P/E/G ratio of 2.38 and a beta of 1.41. Franklin Resources, Inc. has a twelve month low of $18.83 and a twelve month high of $28.61.
Franklin Resources (NYSE:BEN – Get Free Report) last released its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts anticipate that Franklin Resources, Inc. will post 2.39 earnings per share for the current fiscal year.
Franklin Resources Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were issued a dividend of $0.32 per share. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Monday, December 30th. Franklin Resources’s payout ratio is presently 148.84%.
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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