Compass Capital Management Inc. increased its position in Franklin Resources Inc. (NYSE:BEN) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 524,118 shares of the closed-end fund’s stock after buying an additional 53,486 shares during the period. Franklin Resources makes up about 3.3% of Compass Capital Management Inc.’s investment portfolio, making the stock its 25th largest position. Compass Capital Management Inc.’s holdings in Franklin Resources were worth $17,490,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. First Manhattan Co. boosted its stake in shares of Franklin Resources by 1.1% in the second quarter. First Manhattan Co. now owns 1,322,714 shares of the closed-end fund’s stock worth $44,138,000 after buying an additional 14,745 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Franklin Resources by 3.5% in the first quarter. Legal & General Group Plc now owns 1,773,479 shares of the closed-end fund’s stock worth $69,255,000 after buying an additional 60,608 shares during the last quarter. Robecosam AG boosted its stake in shares of Franklin Resources by 5.9% in the first quarter. Robecosam AG now owns 10,600 shares of the closed-end fund’s stock worth $415,000 after buying an additional 586 shares during the last quarter. Williams Jones & Associates LLC bought a new stake in shares of Franklin Resources during the first quarter worth approximately $220,000. Finally, LPL Financial LLC boosted its stake in shares of Franklin Resources by 33.0% in the first quarter. LPL Financial LLC now owns 32,959 shares of the closed-end fund’s stock worth $1,267,000 after buying an additional 8,169 shares during the last quarter. Institutional investors and hedge funds own 48.39% of the company’s stock.
Shares of Franklin Resources Inc. (NYSE:BEN) traded up 2.19% during midday trading on Monday, hitting $36.35. The company had a trading volume of 4,243,670 shares. Franklin Resources Inc. has a 12 month low of $30.56 and a 12 month high of $42.23. The company has a 50-day moving average of $35.84 and a 200-day moving average of $36.08. The company has a market capitalization of $20.94 billion, a PE ratio of 13.45 and a beta of 1.66.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, July 28th. The closed-end fund reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Franklin Resources had a return on equity of 12.98% and a net margin of 23.44%. The company earned $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business earned $0.82 EPS. Franklin Resources’s quarterly revenue was down 18.3% on a year-over-year basis. Analysts predict that Franklin Resources Inc. will post $2.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 annualized dividend and a yield of 1.99%. Franklin Resources’s dividend payout ratio (DPR) is currently 26.57%.
A number of analysts have commented on BEN shares. Citigroup Inc. reduced their price target on Franklin Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 20th. Deutsche Bank AG increased their target price on Franklin Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Barclays PLC reiterated an “underweight” rating on shares of Franklin Resources in a research report on Thursday, August 25th. Finally, Jefferies Group reiterated a “hold” rating on shares of Franklin Resources in a research report on Monday, August 1st. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $37.74.
In other Franklin Resources news, insider Jennifer M. Johnson sold 15,892 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $35.99, for a total transaction of $571,953.08. Following the completion of the sale, the insider now directly owns 1,473,782 shares in the company, valued at approximately $53,041,414.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Craig Steven Tyle sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $36.18, for a total value of $180,900.00. The disclosure for this sale can be found here. Company insiders own 20.41% of the company’s stock.
About Franklin Resources
Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.
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