Macquarie Group Ltd. trimmed its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,600 shares of the closed-end fund’s stock after selling 1,200 shares during the period. Macquarie Group Ltd.’s holdings in Franklin Resources were worth $462,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. National Pension Service increased its position in Franklin Resources by 223.7% in the 4th quarter. National Pension Service now owns 11,254 shares of the closed-end fund’s stock valued at $356,000 after acquiring an additional 7,777 shares in the last quarter. One Wealth Advisors LLC acquired a new stake in Franklin Resources in the 4th quarter valued at about $273,000. Legal & General Group Plc increased its position in Franklin Resources by 9.0% in the 4th quarter. Legal & General Group Plc now owns 2,064,281 shares of the closed-end fund’s stock valued at $61,207,000 after acquiring an additional 170,425 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC increased its position in Franklin Resources by 24.1% in the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 26,641 shares of the closed-end fund’s stock valued at $790,000 after acquiring an additional 5,165 shares in the last quarter. Finally, Cipher Capital LP acquired a new stake in Franklin Resources in the 4th quarter valued at about $2,817,000. 49.53% of the stock is owned by institutional investors.
In other news, EVP Craig Steven Tyle sold 10,663 shares of Franklin Resources stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.82, for a total transaction of $349,959.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 22.20% of the stock is owned by insiders.
Shares of NYSE:BEN opened at $35.46 on Monday. Franklin Resources, Inc. has a one year low of $27.34 and a one year high of $35.65. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.07. The company has a market cap of $17.85 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.18.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Wednesday, January 30th. The closed-end fund reported $0.54 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.10). Franklin Resources had a return on equity of 15.01% and a net margin of 26.55%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that Franklin Resources, Inc. will post 2.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, March 28th. Franklin Resources’s dividend payout ratio is 32.60%.
Several equities research analysts have weighed in on BEN shares. Zacks Investment Research cut shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Evercore ISI cut shares of Franklin Resources from an “in-line” rating to an “underperform” rating and set a $30.19 price objective for the company. in a research report on Tuesday, January 8th. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective on shares of Franklin Resources in a research report on Wednesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $28.00 price objective on shares of Franklin Resources in a research report on Wednesday, January 9th. Finally, Barclays restated a “sell” rating and issued a $23.00 price objective on shares of Franklin Resources in a research report on Thursday, January 10th. Seven analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.01.
About Franklin Resources
Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
Featured Article: What is insider trading?
Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN).
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.