Franklin Resources, Inc. (BEN) Shares Bought by Keystone Financial Planning Inc.

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Keystone Financial Planning Inc. boosted its stake in Franklin Resources, Inc. (NYSE:BEN) by 184.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,620 shares of the closed-end fund’s stock after buying an additional 30,236 shares during the period. Keystone Financial Planning Inc.’s holdings in Franklin Resources were worth $1,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schroder Investment Management Group increased its stake in Franklin Resources by 30.2% during the second quarter. Schroder Investment Management Group now owns 3,790,481 shares of the closed-end fund’s stock worth $120,537,000 after purchasing an additional 879,164 shares during the period. Morgan Stanley increased its stake in Franklin Resources by 108.2% during the second quarter. Morgan Stanley now owns 3,197,116 shares of the closed-end fund’s stock worth $102,468,000 after purchasing an additional 1,661,189 shares during the period. Dimensional Fund Advisors LP increased its stake in Franklin Resources by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,371,504 shares of the closed-end fund’s stock worth $43,955,000 after purchasing an additional 144,888 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Franklin Resources by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,339,874 shares of the closed-end fund’s stock worth $42,943,000 after purchasing an additional 7,562 shares during the period. Finally, California Public Employees Retirement System increased its stake in Franklin Resources by 0.8% during the second quarter. California Public Employees Retirement System now owns 1,254,557 shares of the closed-end fund’s stock worth $40,209,000 after purchasing an additional 10,077 shares during the period. Hedge funds and other institutional investors own 46.57% of the company’s stock.

BEN stock opened at $30.82 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 3.37. Franklin Resources, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $45.96. The company has a market cap of $16.18 billion, a P/E ratio of 9.66, a PEG ratio of 1.04 and a beta of 1.28.

Franklin Resources (NYSE:BEN) last released its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.39. Franklin Resources had a net margin of 12.10% and a return on equity of 16.00%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Analysts anticipate that Franklin Resources, Inc. will post 2.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.99%. Franklin Resources’s payout ratio is 28.84%.

In related news, EVP Craig Steven Tyle sold 11,165 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total transaction of $350,022.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jed A. Plafker sold 4,820 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $32.85, for a total transaction of $158,337.00. Following the sale, the insider now owns 56,369 shares in the company, valued at $1,851,721.65. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by corporate insiders.

A number of analysts have issued reports on the stock. Barclays cut their price target on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, July 30th. Morgan Stanley cut their price target on shares of Franklin Resources from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, July 12th. Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Credit Suisse Group cut their price target on shares of Franklin Resources from $28.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, October 26th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $33.00 price target on shares of Franklin Resources in a research note on Friday, July 13th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.27.

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

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