Caisse DE Depot ET Placement DU Quebec cut its holdings in Franklin Resources, Inc. (NYSE:BEN) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,208 shares of the closed-end fund’s stock after selling 13,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Franklin Resources were worth $3,432,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in BEN. Victory Capital Management Inc. increased its stake in shares of Franklin Resources by 56.4% in the third quarter. Victory Capital Management Inc. now owns 54,448 shares of the closed-end fund’s stock valued at $2,423,000 after buying an additional 19,626 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at $209,000. Sei Investments Co. increased its stake in shares of Franklin Resources by 0.7% in the third quarter. Sei Investments Co. now owns 212,846 shares of the closed-end fund’s stock valued at $9,474,000 after buying an additional 1,413 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Franklin Resources by 5.8% in the third quarter. New York State Common Retirement Fund now owns 1,366,100 shares of the closed-end fund’s stock valued at $60,805,000 after buying an additional 75,151 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Franklin Resources by 8.3% in the third quarter. Toronto Dominion Bank now owns 126,061 shares of the closed-end fund’s stock valued at $5,610,000 after buying an additional 9,687 shares in the last quarter. Institutional investors own 46.95% of the company’s stock.
Franklin Resources, Inc. (NYSE:BEN) opened at $39.83 on Tuesday. The stock has a market capitalization of $21,970.00, a PE ratio of 12.41, a P/E/G ratio of 1.37 and a beta of 1.64. Franklin Resources, Inc. has a 1-year low of $37.01 and a 1-year high of $47.65. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.09.
The business also recently announced a special dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a yield of 2.35%. This is a boost from Franklin Resources’s previous special dividend of $0.50. Franklin Resources’s dividend payout ratio (DPR) is 28.66%.
In other Franklin Resources news, insider Jed A. Plafker sold 7,790 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $43.92, for a total transaction of $342,136.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Gregory E. Johnson sold 49,988 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total value of $2,178,477.04. Following the transaction, the chairman now owns 2,116,886 shares in the company, valued at approximately $92,253,891.88. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by company insiders.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Franklin Resources from a “buy” rating to a “hold” rating in a research note on Monday. ValuEngine upgraded Franklin Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 price target on shares of Franklin Resources in a report on Friday, December 22nd. Finally, Deutsche Bank decreased their price target on Franklin Resources from $40.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, March 6th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $44.00.
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About Franklin Resources
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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