MML Investors Services LLC trimmed its stake in Franklin Resources, Inc. (NYSE:BEN) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,609 shares of the closed-end fund’s stock after selling 467 shares during the period. MML Investors Services LLC’s holdings in Franklin Resources were worth $565,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BEN. BlackRock Inc. increased its position in shares of Franklin Resources by 1,550.0% in the first quarter. BlackRock Inc. now owns 21,119,419 shares of the closed-end fund’s stock worth $889,973,000 after purchasing an additional 19,839,472 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Franklin Resources by 5.2% in the first quarter. Vanguard Group Inc. now owns 26,930,042 shares of the closed-end fund’s stock worth $1,134,833,000 after purchasing an additional 1,337,903 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Franklin Resources by 92.8% in the second quarter. Ameriprise Financial Inc. now owns 1,412,702 shares of the closed-end fund’s stock worth $63,289,000 after purchasing an additional 680,059 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Franklin Resources by 996.3% in the first quarter. JPMorgan Chase & Co. now owns 716,720 shares of the closed-end fund’s stock worth $30,203,000 after purchasing an additional 651,346 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Franklin Resources by 64.7% in the first quarter. AQR Capital Management LLC now owns 1,058,071 shares of the closed-end fund’s stock worth $44,587,000 after purchasing an additional 415,733 shares during the last quarter. Institutional investors own 44.96% of the company’s stock.

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Franklin Resources, Inc. (NYSE BEN) opened at 44.48 on Thursday. Franklin Resources, Inc. has a 12 month low of $33.02 and a 12 month high of $47.65. The firm’s 50-day moving average is $42.65 and its 200-day moving average is $43.09. The company has a market capitalization of $24.81 billion, a PE ratio of 14.47 and a beta of 1.73.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Equities analysts anticipate that Franklin Resources, Inc. will post $2.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, September 28th. Franklin Resources’s dividend payout ratio is currently 26.14%.

Several research analysts recently weighed in on BEN shares. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub upgraded shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Wells Fargo & Company cut shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a research report on Monday, July 24th. Citigroup Inc. restated a “neutral” rating and issued a $43.00 price objective (up from $42.00) on shares of Franklin Resources in a research report on Friday, June 9th. Finally, Barclays PLC started coverage on shares of Franklin Resources in a research report on Friday, September 8th. They issued an “underweight” rating and a $40.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $44.09.

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

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