Jump Financial LLC acquired a new stake in Franklin Resources, Inc. (NYSE:BEN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,966 shares of the closed-end fund’s stock, valued at approximately $1,182,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Franklin Resources by 0.8% during the second quarter. Vanguard Group Inc. now owns 32,185,381 shares of the closed-end fund’s stock worth $1,029,611,000 after buying an additional 252,788 shares during the period. Geode Capital Management LLC increased its position in shares of Franklin Resources by 3.1% in the 1st quarter. Geode Capital Management LLC now owns 4,740,600 shares of the closed-end fund’s stock valued at $139,950,000 after purchasing an additional 140,550 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Franklin Resources by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 4,547,304 shares of the closed-end fund’s stock worth $145,468,000 after purchasing an additional 206,868 shares during the last quarter. London Co. of Virginia grew its stake in shares of Franklin Resources by 3.0% during the first quarter. London Co. of Virginia now owns 3,811,767 shares of the closed-end fund’s stock worth $112,828,000 after purchasing an additional 109,425 shares in the last quarter. Finally, FMR LLC increased its holdings in Franklin Resources by 85.1% in the second quarter. FMR LLC now owns 3,081,350 shares of the closed-end fund’s stock valued at $98,572,000 after buying an additional 1,416,745 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Franklin Resources news, CEO Jennifer M. Johnson sold 52,789 shares of the company’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $30.37, for a total transaction of $1,603,201.93. Following the completion of the sale, the chief executive officer now directly owns 1,897,836 shares of the company’s stock, valued at approximately $57,637,279.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Franklin Resources Inc acquired 3,604,359 shares of the stock in a transaction that occurred on Thursday, September 30th. The stock was purchased at an average price of $11.93 per share, for a total transaction of $43,000,002.87. The disclosure for this purchase can be found here. Company insiders own 23.10% of the company’s stock.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Tuesday, August 3rd. The closed-end fund reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.18. Franklin Resources had a net margin of 15.65% and a return on equity of 13.73%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue was up 82.8% on a year-over-year basis. On average, equities research analysts predict that Franklin Resources, Inc. will post 3.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.12 annualized dividend and a yield of 3.87%. Franklin Resources’s dividend payout ratio is presently 42.91%.
About Franklin Resources
Franklin Resources, Inc is a holding company, which engages in the provision of investment management and related services. It offers its products and services under the brands of Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2, LibertyShares, and Edinburgh Partners.
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