Franklin Resources, Inc. (NYSE:BEN) Stake Lowered by Quantinno Capital Management LP

Quantinno Capital Management LP trimmed its position in shares of Franklin Resources, Inc. (NYSE:BENFree Report) by 35.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,262 shares of the closed-end fund’s stock after selling 14,222 shares during the period. Quantinno Capital Management LP’s holdings in Franklin Resources were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Franklin Resources by 4.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 102,385 shares of the closed-end fund’s stock worth $2,320,000 after purchasing an additional 4,248 shares in the last quarter. FORA Capital LLC acquired a new position in Franklin Resources in the third quarter worth approximately $1,857,000. Principal Financial Group Inc. raised its position in Franklin Resources by 9.3% during the third quarter. Principal Financial Group Inc. now owns 381,192 shares of the closed-end fund’s stock valued at $7,681,000 after acquiring an additional 32,490 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Franklin Resources by 44.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock valued at $60,421,000 after acquiring an additional 925,590 shares during the last quarter. Finally, Swedbank AB grew its position in Franklin Resources by 78.3% in the third quarter. Swedbank AB now owns 62,076 shares of the closed-end fund’s stock worth $1,251,000 after acquiring an additional 27,259 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 0.6 %

Shares of BEN opened at $21.97 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The company has a 50-day simple moving average of $21.30 and a 200-day simple moving average of $21.60. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32. The firm has a market capitalization of $11.50 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.43 and a beta of 1.39.

Franklin Resources (NYSE:BENGet Free Report) last posted its quarterly earnings results on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company earned $0.84 EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Franklin Resources, Inc. will post 2.39 earnings per share for the current year.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 5.83%. The ex-dividend date is Monday, December 30th. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.31. Franklin Resources’s dividend payout ratio is 148.84%.

Insiders Place Their Bets

In other Franklin Resources news, insider Franklin Resources Inc sold 7,657 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $43.90, for a total transaction of $336,142.30. Following the completion of the transaction, the insider now directly owns 65,862 shares in the company, valued at $2,891,341.80. This represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 24,024 shares of company stock worth $1,051,375 over the last quarter. Company insiders own 24.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Morgan Stanley lowered their price objective on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their target price on Franklin Resources from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company upped their target price on Franklin Resources from $19.50 to $22.50 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and an average price target of $20.66.

Get Our Latest Analysis 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.

Further Reading

Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BENFree Report).

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

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