Franklin Resources, Inc. (NYSE:BEN) Holdings Boosted by First Republic Investment Management Inc.

First Republic Investment Management Inc. raised its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 61.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 100,532 shares of the closed-end fund’s stock after purchasing an additional 38,247 shares during the quarter. First Republic Investment Management Inc.’s holdings in Franklin Resources were worth $4,475,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. IFP Advisors Inc increased its holdings in shares of Franklin Resources by 16.1% during the 2nd quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock worth $120,000 after purchasing an additional 372 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Franklin Resources in the second quarter valued at about $123,000. Benjamin F. Edwards & Company Inc. bought a new stake in Franklin Resources in the third quarter valued at about $127,000. NBT Bank N A NY bought a new stake in Franklin Resources in the second quarter valued at about $206,000. Finally, BB&T Securities LLC bought a new stake in Franklin Resources during the second quarter worth about $208,000. Institutional investors own 44.71% of the company’s stock.

Shares of Franklin Resources, Inc. (BEN) traded down $0.08 during mid-day trading on Tuesday, hitting $43.25. 2,378,328 shares of the stock traded hands, compared to its average volume of 1,735,500. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75. Franklin Resources, Inc. has a 52 week low of $39.38 and a 52 week high of $47.65. The company has a market capitalization of $23,960.00, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.37 and a beta of 1.75.

Franklin Resources (NYSE:BEN) last released its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. sell-side analysts predict that Franklin Resources, Inc. will post 2.93 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Tuesday, December 26th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $0.92 dividend on an annualized basis and a yield of 2.13%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.20. Franklin Resources’s dividend payout ratio (DPR) is 30.56%.

BEN has been the topic of several research analyst reports. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, October 3rd. ValuEngine upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 target price on shares of Franklin Resources in a research report on Friday, December 22nd. Wells Fargo & Co reduced their target price on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Finally, UBS Group increased their price objective on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.55.

In other Franklin Resources news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $42.95, for a total value of $17,180,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jed A. Plafker sold 7,790 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $43.92, for a total transaction of $342,136.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,603 shares of company stock valued at $22,134,429. 21.60% of the stock is owned by insiders.

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About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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

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