Capital Investment Counsel Inc lessened its position in Franklin Resources, Inc. (NYSE:BEN) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 39,229 shares of the closed-end fund’s stock after selling 2,550 shares during the quarter. Capital Investment Counsel Inc’s holdings in Franklin Resources were worth $1,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BEN. Alpha Omega Wealth Management LLC lifted its stake in shares of Franklin Resources by 120.8% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 1,325 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 725 shares during the period. Clean Yield Group purchased a new position in shares of Franklin Resources in the 4th quarter valued at approximately $44,000. CWM LLC lifted its stake in shares of Franklin Resources by 22.5% in the 4th quarter. CWM LLC now owns 1,772 shares of the closed-end fund’s stock valued at $53,000 after purchasing an additional 325 shares during the period. Capital Investment Advisory Services LLC purchased a new position in shares of Franklin Resources in the 4th quarter valued at approximately $69,000. Finally, Squar Milner Financial Services LLC purchased a new position in shares of Franklin Resources in the 3rd quarter valued at approximately $100,000. Institutional investors own 48.62% of the company’s stock.

Franklin Resources stock opened at $30.02 on Monday. The firm has a market capitalization of $15.30 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. Franklin Resources, Inc. has a 12 month low of $27.34 and a 12 month high of $40.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.93 and a quick ratio of 3.93.

Franklin Resources (NYSE:BEN) last posted its earnings results on Wednesday, January 30th. The closed-end fund reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.10). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. Franklin Resources had a return on equity of 15.01% and a net margin of 26.55%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. Equities research analysts forecast that Franklin Resources, Inc. will post 2.33 earnings per share for the current year.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,216 shares of Franklin Resources stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $34.26, for a total value of $350,000.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of Franklin Resources stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $32.42, for a total value of $10,471,660.00. Following the completion of the sale, the insider now directly owns 103,653,045 shares of the company’s stock, valued at approximately $3,360,431,718.90. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by company insiders.

BEN has been the subject of a number of recent research reports. Citigroup cut Franklin Resources from a “neutral” rating to a “sell” rating in a research note on Monday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective on shares of Franklin Resources in a research note on Wednesday, January 9th. Morgan Stanley set a $29.00 price objective on Franklin Resources and gave the company a “sell” rating in a research note on Wednesday, November 14th. Zacks Investment Research cut Franklin Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Finally, Bank of America cut Franklin Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, January 11th. Nine equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average price target of $29.47.

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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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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)

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