Franklin Resources, Inc. (BEN) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC lessened its holdings in Franklin Resources, Inc. (NYSE:BEN) by 15.3% during the fourth quarter, Holdings Channel reports. The fund owned 31,550 shares of the closed-end fund’s stock after selling 5,720 shares during the quarter. Ingalls & Snyder LLC’s holdings in Franklin Resources were worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue raised its holdings in shares of Franklin Resources by 114.6% in the 4th quarter. State of Alaska Department of Revenue now owns 49,944 shares of the closed-end fund’s stock worth $2,162,000 after acquiring an additional 26,676 shares during the last quarter. Robinson Value Management Ltd. acquired a new stake in shares of Franklin Resources in the 4th quarter worth about $1,710,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Franklin Resources by 1.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,369,619 shares of the closed-end fund’s stock worth $59,346,000 after acquiring an additional 23,615 shares during the last quarter. Creative Planning raised its holdings in shares of Franklin Resources by 134.0% in the 4th quarter. Creative Planning now owns 11,352 shares of the closed-end fund’s stock worth $492,000 after acquiring an additional 6,501 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of Franklin Resources in the 4th quarter worth about $222,000. Institutional investors own 44.80% of the company’s stock.

In other news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $42.95, for a total transaction of $17,180,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory E. Johnson sold 56,825 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the transaction, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,603 shares of company stock valued at $22,134,429. Company insiders own 22.20% of the company’s stock.

A number of equities research analysts recently weighed in on BEN shares. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 target price on shares of Franklin Resources in a report on Thursday, October 12th. Wells Fargo & Co lowered their target price on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Citigroup lowered their target price on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Finally, UBS Group upped their target price on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.45.

Shares of Franklin Resources, Inc. (NYSE BEN) opened at $44.89 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75. The company has a market cap of $24,820.22, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.56 and a beta of 1.75. Franklin Resources, Inc. has a one year low of $39.38 and a one year high of $47.65.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. equities research analysts forecast that Franklin Resources, Inc. will post 3.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th were paid a $0.23 dividend. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, December 22nd. This represents a $0.92 annualized dividend and a yield of 2.05%. Franklin Resources’s dividend payout ratio (DPR) is 30.67%.

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Franklin Resources Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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

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