Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $573,000 Position in Franklin Resources, Inc. (BEN)

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Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 6.4% in the 1st quarter, Holdings Channel reports. The firm owned 17,277 shares of the closed-end fund’s stock after buying an additional 1,042 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Franklin Resources were worth $573,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vigilant Capital Management LLC bought a new position in Franklin Resources during the 1st quarter valued at about $39,000. CWM LLC lifted its holdings in Franklin Resources by 22.5% during the 4th quarter. CWM LLC now owns 1,772 shares of the closed-end fund’s stock valued at $53,000 after purchasing an additional 325 shares during the last quarter. Investors Research Corp bought a new position in Franklin Resources during the 1st quarter valued at about $56,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Franklin Resources by 102.2% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,943 shares of the closed-end fund’s stock valued at $58,000 after purchasing an additional 982 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in Franklin Resources during the 4th quarter valued at about $69,000. 48.50% of the stock is owned by hedge funds and other institutional investors.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,663 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $32.82, for a total value of $349,959.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 23.90% of the company’s stock.

Several brokerages recently issued reports on BEN. Citigroup raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $35.00 in a report on Monday, April 15th. Keefe, Bruyette & Woods downgraded shares of Franklin Resources from a “market perform” rating to an “underperform” rating and cut their price target for the company from $34.00 to $33.00 in a report on Monday, April 29th. Bank of America set a $32.00 price target on shares of Franklin Resources and gave the company a “sell” rating in a report on Tuesday, April 9th. TheStreet raised shares of Franklin Resources from a “c+” rating to a “b” rating in a report on Friday, April 26th. Finally, Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday, April 3rd. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.55.

Shares of NYSE BEN opened at $33.28 on Monday. Franklin Resources, Inc. has a 1-year low of $27.34 and a 1-year high of $35.82. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.85 and a beta of 1.18. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.07.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, April 26th. The closed-end fund reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.08. Franklin Resources had a net margin of 26.10% and a return on equity of 14.24%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 2.58 earnings per share for the current year.

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Franklin Resources Profile

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.

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

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