Crossmark Global Holdings Inc. Sells 1,977 Shares of Franklin Resources, Inc. (NYSE:BEN)

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Crossmark Global Holdings Inc. lessened its stake in Franklin Resources, Inc. (NYSE:BEN) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,318 shares of the closed-end fund’s stock after selling 1,977 shares during the period. Crossmark Global Holdings Inc.’s holdings in Franklin Resources were worth $731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its holdings in shares of Franklin Resources by 8.0% during the second quarter. Sigma Planning Corp now owns 9,241 shares of the closed-end fund’s stock worth $322,000 after buying an additional 681 shares in the last quarter. Bingham Osborn & Scarborough LLC acquired a new stake in shares of Franklin Resources during the second quarter worth approximately $208,000. Aperio Group LLC increased its holdings in shares of Franklin Resources by 1.8% in the second quarter. Aperio Group LLC now owns 186,653 shares of the closed-end fund’s stock valued at $6,496,000 after purchasing an additional 3,353 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Franklin Resources by 257.1% in the second quarter. Janus Henderson Group PLC now owns 690,543 shares of the closed-end fund’s stock valued at $24,029,000 after purchasing an additional 497,181 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Franklin Resources by 0.5% in the second quarter. Northern Trust Corp now owns 4,270,065 shares of the closed-end fund’s stock valued at $148,598,000 after purchasing an additional 20,983 shares in the last quarter. Institutional investors and hedge funds own 50.47% of the company’s stock.

In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $26.01, for a total value of $130,050.00. Following the transaction, the executive vice president now directly owns 100,009 shares of the company’s stock, valued at $2,601,234.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.90% of the stock is currently owned by company insiders.

A number of analysts recently weighed in on BEN shares. Barclays reissued a “sell” rating and issued a $24.00 price target on shares of Franklin Resources in a report on Wednesday, October 9th. ValuEngine lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. TheStreet lowered shares of Franklin Resources from a “b-” rating to a “c+” rating in a report on Friday, August 9th. BMO Capital Markets started coverage on shares of Franklin Resources in a report on Monday, October 7th. They issued an “underperform” rating and a $16.00 price target for the company. Finally, Morgan Stanley lowered their price target on shares of Franklin Resources from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, October 8th. Eight research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Sell” and a consensus price target of $29.35.

Shares of BEN stock opened at $27.27 on Wednesday. Franklin Resources, Inc. has a 52-week low of $25.57 and a 52-week high of $35.82. The stock has a market cap of $13.76 billion, a PE ratio of 10.12, a PEG ratio of 1.47 and a beta of 1.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.35 and a current ratio of 3.35. The firm’s 50 day moving average price is $27.74 and its two-hundred day moving average price is $31.93.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Tuesday, July 30th. The closed-end fund reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). Franklin Resources had a net margin of 23.80% and a return on equity of 13.43%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business posted $0.75 earnings per share. Franklin Resources’s revenue was down 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Franklin Resources, Inc. will post 2.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.04 dividend on an annualized basis and a yield of 3.81%. Franklin Resources’s payout ratio is presently 32.60%.

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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