Schaper Benz & Wise Investment Counsel Inc. WI raised its position in Franklin Resources, Inc. (NYSE:BEN) by 1.8% during the third quarter, HoldingsChannel.com reports. The firm owned 269,632 shares of the closed-end fund’s stock after buying an additional 4,660 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Franklin Resources were worth $8,200,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. purchased a new stake in shares of Franklin Resources during the 2nd quarter valued at about $471,000. Royal London Asset Management Ltd. purchased a new stake in shares of Franklin Resources during the 2nd quarter valued at about $4,272,000. Insight 2811 Inc. raised its holdings in shares of Franklin Resources by 63.4% during the 2nd quarter. Insight 2811 Inc. now owns 26,554 shares of the closed-end fund’s stock valued at $851,000 after buying an additional 10,300 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Franklin Resources by 115.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 158,400 shares of the closed-end fund’s stock valued at $5,077,000 after buying an additional 84,790 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Franklin Resources by 24.5% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,808 shares of the closed-end fund’s stock valued at $571,000 after buying an additional 3,500 shares during the period. Institutional investors own 46.89% of the company’s stock.

BEN has been the topic of several analyst reports. Deutsche Bank raised their target price on Franklin Resources from $31.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. downgraded Franklin Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $32.00 to $29.00 in a report on Thursday, September 6th. Morgan Stanley dropped their target price on Franklin Resources from $33.00 to $32.00 and set an “underweight” rating on the stock in a report on Thursday, July 12th. Zacks Investment Research downgraded Franklin Resources from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Finally, UBS Group dropped their price objective on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.75.

BEN stock traded up $0.60 during midday trading on Friday, hitting $29.76. 214,986 shares of the company’s stock were exchanged, compared to its average volume of 3,963,031. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a 12-month low of $28.12 and a 12-month high of $45.96. The company has a market capitalization of $15.75 billion, a PE ratio of 9.81, a P/E/G ratio of 1.62 and a beta of 1.49.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 27th. The closed-end fund reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Franklin Resources had a return on equity of 15.40% and a net margin of 10.72%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the business earned $0.73 EPS. Franklin Resources’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 3.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.92 annualized dividend and a yield of 3.09%. Franklin Resources’s dividend payout ratio is presently 30.56%.

In other Franklin Resources news, EVP Craig Steven Tyle sold 11,165 shares of Franklin Resources stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jed A. Plafker sold 4,820 shares of Franklin Resources stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $32.85, for a total value 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 owned by insiders.

About Franklin Resources

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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