S&CO Inc. purchased a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) in the first quarter, HoldingsChannel.com reports. The fund purchased 94,032 shares of the closed-end fund’s stock, valued at approximately $3,116,000.
Other hedge funds also recently bought and sold shares of the company. Vigilant Capital Management LLC acquired a new stake in shares of Franklin Resources during the 1st quarter valued at approximately $39,000. Alpha Omega Wealth Management LLC lifted its position in shares of Franklin Resources by 120.8% during 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 acquiring an additional 725 shares during the period. Clean Yield Group acquired a new stake in shares of Franklin Resources during the 4th quarter valued at approximately $44,000. Investors Research Corp acquired a new stake in shares of Franklin Resources during the 1st quarter valued at approximately $56,000. Finally, CWM LLC lifted its position in shares of Franklin Resources by 22.5% during the 4th quarter. CWM LLC now owns 1,772 shares of the closed-end fund’s stock valued at $53,000 after acquiring an additional 325 shares during the period. Institutional investors own 49.43% of the company’s stock.
Shares of BEN traded down $0.19 during mid-day trading on Thursday, reaching $35.48. 12,758 shares of the company’s stock were exchanged, compared to its average volume of 2,200,924. 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, Inc. has a 52-week low of $27.34 and a 52-week high of $35.82. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Wednesday, January 30th. The closed-end fund reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.10). Franklin Resources had a return on equity of 15.01% and a net margin of 26.55%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities analysts expect that Franklin Resources, Inc. will post 2.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.93%. Franklin Resources’s dividend payout ratio (DPR) is 32.60%.
In other news, EVP Craig Steven Tyle sold 10,663 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.82, for a total transaction of $349,959.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.20% of the company’s stock.
A number of research firms have recently issued reports on BEN. Zacks Investment Research downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Bank of America set a $32.00 price target on shares of Franklin Resources and gave the company a “sell” rating in a research report on Tuesday, April 9th. Citigroup upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $35.00 in a research report on Monday, April 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of Franklin Resources in a research report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.55.
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Franklin Resources Profile
Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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