Fenimore Asset Management Inc. decreased its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 387,419 shares of the closed-end fund’s stock after selling 9,397 shares during the period. Fenimore Asset Management Inc. owned approximately 0.08% of Franklin Resources worth $11,491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BEN. Squar Milner Financial Services LLC bought a new position in Franklin Resources during the 3rd quarter worth $100,000. Focused Wealth Management Inc acquired a new stake in shares of Franklin Resources during the 2nd quarter worth $131,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Franklin Resources by 196.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,301 shares of the closed-end fund’s stock worth $131,000 after purchasing an additional 2,850 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Franklin Resources during the 2nd quarter worth $192,000. Finally, Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Franklin Resources during the 3rd quarter worth $204,000. Hedge funds and other institutional investors own 47.90% of the company’s stock.

NYSE:BEN traded down $0.38 during trading hours on Friday, hitting $30.09. The company’s stock had a trading volume of 1,822,359 shares, compared to its average volume of 3,872,416. The firm has a market capitalization of $15.53 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.26. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a twelve month low of $27.34 and a twelve month high of $45.96.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.39. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Franklin Resources had a return on equity of 16.26% and a net margin of 12.10%. On average, analysts anticipate that Franklin Resources, Inc. will post 2.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Monday, December 31st will be paid a $0.26 dividend. The ex-dividend date is Friday, December 28th. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 3.46%. Franklin Resources’s dividend payout ratio (DPR) is 32.60%.

Several analysts have recently issued reports on BEN shares. Zacks Investment Research raised Franklin Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. Deutsche Bank increased their target price on Franklin Resources from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, September 27th. UBS Group reduced their target price on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. Credit Suisse Group reduced their target price on Franklin Resources from $28.00 to $26.00 and set an “underperform” rating on the stock in a report on Friday, October 26th. Finally, Morgan Stanley set a $29.00 target price on Franklin Resources and gave the stock a “sell” rating in a report on Wednesday, November 14th. Eight analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Franklin Resources currently has an average rating of “Sell” and a consensus price target of $31.43.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,216 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $34.26, for a total value of $350,000.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of the stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $32.42, for a total value of $10,471,660.00. Following the completion of the transaction, the insider now owns 103,653,045 shares of the company’s stock, valued at $3,360,431,718.90. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by company insiders.

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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.

See Also: Catch-Up Contributions

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

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