Uncommon Cents Investing LLC Acquires 11,745 Shares of Franklin Resources, Inc. (NYSE:BEN)

Uncommon Cents Investing LLC increased its holdings in Franklin Resources, Inc. (NYSE:BENGet Rating) by 7.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 162,910 shares of the closed-end fund’s stock after buying an additional 11,745 shares during the quarter. Franklin Resources comprises approximately 1.5% of Uncommon Cents Investing LLC’s portfolio, making the stock its 16th biggest position. Uncommon Cents Investing LLC’s holdings in Franklin Resources were worth $3,797,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BEN. Geode Capital Management LLC increased its holdings in Franklin Resources by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 5,140,085 shares of the closed-end fund’s stock worth $171,673,000 after buying an additional 144,639 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Franklin Resources by 34.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 75,916 shares of the closed-end fund’s stock valued at $2,542,000 after purchasing an additional 19,277 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Franklin Resources by 20.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,323,124 shares of the closed-end fund’s stock valued at $77,801,000 after purchasing an additional 394,674 shares during the period. State Street Corp grew its stake in shares of Franklin Resources by 3.5% during the 4th quarter. State Street Corp now owns 27,532,069 shares of the closed-end fund’s stock valued at $929,900,000 after purchasing an additional 933,075 shares during the period. Finally, Credit Suisse AG grew its stake in shares of Franklin Resources by 0.6% during the 4th quarter. Credit Suisse AG now owns 609,541 shares of the closed-end fund’s stock valued at $20,414,000 after purchasing an additional 3,655 shares during the period. 45.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets lowered their price objective on Franklin Resources from $29.00 to $27.00 in a research report on Wednesday, June 1st. Morgan Stanley lowered their price target on Franklin Resources from $27.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Franklin Resources from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, August 12th. The Goldman Sachs Group initiated coverage on Franklin Resources in a report on Tuesday, June 28th. They set a “sell” rating and a $23.00 price objective on the stock. Finally, Bank of America cut Franklin Resources from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $28.00 to $25.00 in a report on Thursday, September 8th. Four research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.25.

Franklin Resources Price Performance

Shares of NYSE BEN traded down $0.56 during midday trading on Friday, hitting $23.15. The stock had a trading volume of 42,040 shares, compared to its average volume of 3,050,155. Franklin Resources, Inc. has a 1 year low of $22.61 and a 1 year high of $38.27. The company has a market capitalization of $11.54 billion, a PE ratio of 7.06, a P/E/G ratio of 4.25 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The stock has a 50 day simple moving average of $26.39 and a 200-day simple moving average of $26.03.

Franklin Resources (NYSE:BENGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The closed-end fund reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. Franklin Resources had a return on equity of 17.37% and a net margin of 20.25%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the business posted $0.96 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Franklin Resources, Inc. will post 3.62 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, September 29th. Franklin Resources’s dividend payout ratio is presently 34.52%.

Insiders Place Their Bets

In other news, insider Franklin Resources Inc purchased 4,378 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $31.74 per share, for a total transaction of $138,957.72. Following the acquisition, the insider now directly owns 28,362 shares in the company, valued at approximately $900,209.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Jed A. Plafker sold 19,166 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $29.02, for a total value of $556,197.32. Following the completion of the sale, the executive vice president now directly owns 129,101 shares in the company, valued at approximately $3,746,511.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Franklin Resources Inc bought 4,378 shares of the stock in a transaction dated Monday, August 29th. The shares were acquired at an average price of $31.74 per share, with a total value of $138,957.72. Following the completion of the purchase, the insider now directly owns 28,362 shares of the company’s stock, valued at $900,209.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 6,018,007 shares of company stock worth $59,856,759. Company insiders own 23.30% of the company’s stock.

About Franklin Resources

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

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