PFG Investments LLC Has $247,000 Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

PFG Investments LLC grew its stake in Franklin Resources, Inc. (NYSE:BEN) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,058 shares of the closed-end fund’s stock after buying an additional 874 shares during the period. PFG Investments LLC’s holdings in Franklin Resources were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BEN. Natixis Advisors L.P. grew its stake in Franklin Resources by 2.4% during the fourth quarter. Natixis Advisors L.P. now owns 32,451 shares of the closed-end fund’s stock worth $966,000 after purchasing an additional 770 shares during the period. M&T Bank Corp acquired a new stake in Franklin Resources during the fourth quarter worth approximately $297,000. Private Advisor Group LLC grew its stake in Franklin Resources by 309.7% during the fourth quarter. Private Advisor Group LLC now owns 9,883 shares of the closed-end fund’s stock worth $294,000 after purchasing an additional 14,596 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Franklin Resources by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,878,337 shares of the closed-end fund’s stock worth $55,956,000 after purchasing an additional 37,474 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Franklin Resources during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Up 1.2 %

BEN stock opened at $19.90 on Friday. Franklin Resources, Inc. has a twelve month low of $18.94 and a twelve month high of $30.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $21.68 and its 200-day moving average is $23.74. The firm has a market capitalization of $10.47 billion, a PE ratio of 11.37, a P/E/G ratio of 2.45 and a beta of 1.39.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. Sell-side analysts expect that Franklin Resources, Inc. will post 2.41 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 6.23%. Franklin Resources’s dividend payout ratio (DPR) is currently 70.86%.

Insider Buying and Selling

In other Franklin Resources news, major shareholder Charles B. Johnson purchased 200,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were acquired at an average cost of $22.80 per share, for a total transaction of $4,560,000.00. Following the completion of the acquisition, the insider now owns 88,703,192 shares of the company’s stock, valued at approximately $2,022,432,777.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jennifer M. Johnson bought 18,900 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the transaction, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at approximately $4,544,055. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Charles B. Johnson bought 200,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was purchased at an average cost of $22.80 per share, with a total value of $4,560,000.00. Following the completion of the transaction, the insider now directly owns 88,703,192 shares of the company’s stock, valued at $2,022,432,777.60. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 431,600 shares of company stock worth $9,097,637. 24.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on BEN shares. Wells Fargo & Company started coverage on Franklin Resources in a research note on Thursday. They set an “equal weight” rating and a $20.00 target price for the company. Barclays began coverage on Franklin Resources in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $23.00 price objective on shares of Franklin Resources in a research note on Thursday, August 22nd. Evercore ISI reduced their price objective on Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, BMO Capital Markets reduced their price objective on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.00.

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.