Franklin Resources Inc. (BEN) Shares Bought by Compass Capital Management Inc.
Compass Capital Management Inc. raised its stake in shares of Franklin Resources Inc. (NYSE:BEN) by 11.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 524,118 shares of the closed-end fund’s stock after buying an additional 53,486 shares during the period. Franklin Resources accounts for approximately 3.3% of Compass Capital Management Inc.’s portfolio, making the stock its 25th largest position. Compass Capital Management Inc. owned 0.09% of Franklin Resources worth $17,490,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in BEN. Gargoyle Investment Advisor L.L.C. raised its stake in shares of Franklin Resources by 11.4% in the second quarter. Gargoyle Investment Advisor L.L.C. now owns 33,262 shares of the closed-end fund’s stock valued at $1,110,000 after buying an additional 3,400 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Franklin Resources by 18.6% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,705 shares of the closed-end fund’s stock valued at $457,000 after buying an additional 2,150 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Franklin Resources by 54.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 114,459 shares of the closed-end fund’s stock valued at $3,820,000 after buying an additional 40,395 shares in the last quarter. PGGM Investments raised its stake in shares of Franklin Resources by 27.4% in the second quarter. PGGM Investments now owns 816,441 shares of the closed-end fund’s stock valued at $27,245,000 after buying an additional 175,618 shares in the last quarter. Finally, Grimes & Company Inc. raised its stake in shares of Franklin Resources by 59.4% in the second quarter. Grimes & Company Inc. now owns 95,415 shares of the closed-end fund’s stock valued at $3,184,000 after buying an additional 35,566 shares in the last quarter. 48.39% of the stock is owned by hedge funds and other institutional investors.
Franklin Resources Inc. (NYSE:BEN) traded up 2.19% during mid-day trading on Monday, reaching $36.35. The company had a trading volume of 4,243,670 shares. The company has a market capitalization of $20.94 billion, a PE ratio of 13.45 and a beta of 1.66. Franklin Resources Inc. has a 1-year low of $30.56 and a 1-year high of $42.23. The firm has a 50-day moving average of $35.84 and a 200 day moving average of $36.08.
Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, July 28th. The closed-end fund reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. Franklin Resources had a return on equity of 12.98% and a net margin of 23.44%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Franklin Resources’s revenue was down 18.3% on a year-over-year basis. On average, analysts predict that Franklin Resources Inc. will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, September 28th. Franklin Resources’s dividend payout ratio is 26.57%.
Several equities research analysts have recently issued reports on the company. Citigroup Inc. decreased their target price on Franklin Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 20th. Deutsche Bank AG raised their target price on Franklin Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, September 9th. Barclays PLC reissued an “underweight” rating on shares of Franklin Resources in a report on Thursday, August 25th. Jefferies Group reissued a “neutral” rating on shares of Franklin Resources in a report on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Franklin Resources from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.74.
In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $36.18, for a total value of $180,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer M. Johnson sold 15,892 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $35.99, for a total value of $571,953.08. Following the completion of the sale, the insider now owns 1,473,782 shares of the company’s stock, valued at approximately $53,041,414.18. The disclosure for this sale can be found here. 20.41% of the stock is owned by company insiders.
About Franklin Resources
Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.
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