Tredje AP fonden Sells 730 Shares of Franklin Resources, Inc. (NYSE:BEN)

Tredje AP fonden decreased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,016 shares of the closed-end fund’s stock after selling 730 shares during the period. Tredje AP fonden’s holdings in Franklin Resources were worth $1,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd bought a new position in shares of Franklin Resources during the first quarter valued at approximately $710,000. Hsbc Holdings PLC lifted its position in shares of Franklin Resources by 26.3% in the 4th quarter. Hsbc Holdings PLC now owns 708,050 shares of the closed-end fund’s stock worth $21,093,000 after purchasing an additional 147,497 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Franklin Resources in the 1st quarter worth about $1,538,000. Norges Bank bought a new stake in shares of Franklin Resources during the 4th quarter valued at about $49,547,000. Finally, SG Americas Securities LLC increased its position in shares of Franklin Resources by 583.8% during the first quarter. SG Americas Securities LLC now owns 199,225 shares of the closed-end fund’s stock valued at $5,600,000 after buying an additional 170,089 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Insider Buying and Selling at Franklin Resources

In related news, CEO Jennifer M. Johnson purchased 18,900 shares of Franklin Resources stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $20.95 per share, for a total transaction of $395,955.00. Following the completion of the purchase, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at approximately $4,544,055. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jennifer M. Johnson acquired 12,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average price of $19.66 per share, with a total value of $249,682.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,637,700 shares of the company’s stock, valued at approximately $51,857,182. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer M. Johnson bought 18,900 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $20.95 per share, for a total transaction of $395,955.00. Following the acquisition, the chief executive officer now owns 216,900 shares of the company’s stock, valued at approximately $4,544,055. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 231,600 shares of company stock worth $4,537,637. Company insiders own 24.13% of the company’s stock.

Franklin Resources Trading Down 0.3 %

NYSE:BEN opened at $20.81 on Friday. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 2.45 and a beta of 1.39. 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 company’s 50 day moving average price is $21.47 and its 200-day moving average price is $23.51. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, equities research analysts forecast that Franklin Resources, Inc. will post 2.41 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend is Monday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is 70.86%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BEN. BMO Capital Markets cut their price objective on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. UBS Group reduced their price target on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company initiated coverage on Franklin Resources in a research report on Thursday, September 12th. They set an “equal weight” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $23.00 target price on shares of Franklin Resources in a research report on Thursday, August 22nd. Finally, TD Cowen lifted their price target on shares of Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.00.

About Franklin Resources

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.