New England Research & Management Inc. boosted its holdings in Franklin Resources, Inc. (NYSE:BEN) by 10.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 39,540 shares of the closed-end fund’s stock after purchasing an additional 3,640 shares during the quarter. Franklin Resources makes up approximately 1.2% of New England Research & Management Inc.’s holdings, making the stock its 17th largest position. New England Research & Management Inc.’s holdings in Franklin Resources were worth $1,713,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mountain Capital Investment Advisors Inc purchased a new position in Franklin Resources in the second quarter valued at $123,000. Benjamin F. Edwards & Company Inc. purchased a new position in Franklin Resources in the third quarter valued at $127,000. Chicago Equity Partners LLC purchased a new position in Franklin Resources in the third quarter valued at $209,000. Highbridge Capital Management LLC acquired a new position in Franklin Resources in the third quarter valued at $210,000. Finally, Colony Group LLC acquired a new position in Franklin Resources in the second quarter valued at $212,000. 44.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franklin Resources, Inc. (NYSE:BEN) traded up $0.35 on Tuesday, hitting $43.92. 2,404,400 shares of the stock traded hands, compared to its average volume of 2,179,980. Franklin Resources, Inc. has a twelve month low of $39.38 and a twelve month high of $47.65. The firm has a market capitalization of $24,270.00, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 2.33 and a beta of 1.75. The company has a quick ratio of 8.75, a current ratio of 8.75 and a debt-to-equity ratio of 0.08.

Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. sell-side analysts forecast that Franklin Resources, Inc. will post 3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th will be paid a dividend of $0.23 per share. This is an increase from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, December 22nd. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. Franklin Resources’s dividend payout ratio is 30.56%.

Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. UBS Group upped their price objective on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $46.00 price objective on shares of Franklin Resources in a research note on Wednesday, November 1st. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Citigroup decreased their price objective on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Franklin Resources presently has an average rating of “Hold” and an average target price of $44.55.

In other news, Chairman Gregory E. Johnson sold 56,825 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the sale, the chairman now owns 2,047,273 shares in the company, valued at $87,684,702.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jed A. Plafker sold 7,790 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $43.92, for a total transaction of $342,136.80. The disclosure for this sale can be found here. Insiders have sold 514,603 shares of company stock valued at $22,134,429 in the last quarter. Insiders own 22.20% of the company’s stock.

WARNING: This news story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2018/01/09/franklin-resources-inc-ben-position-boosted-by-new-england-research-management-inc.html.

Franklin Resources Profile

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.

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).

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.