Steward Partners Investment Advisory LLC boosted its position in shares of Franklin Resources, Inc. (NYSE: BEN) by 196.4% during the third quarter, according to its latest disclosure with the Commission Securities & Exchange. The institutional investor had 4,301 shares of the stock of the fund at the end of the purchase of 2,850 additional shares during the period. Steward Partners Advisory LLC LLC payments at Franklin Resources were worth $ 131,000 at the end of the latest quarter.
Other organizational investors have also made changes to their jobs in the company recently. Captrust Financial Advisers raised their benefit in Franklin Resources by 605.1% during the second quarter. Captrust Financial Advisers now own 3,187 shares of the end of the field fund valued at $ 103,000 after the acquisition of 2,735 additional shares in the last quarter. Wealth Management Inc. Inc bought a new benefit in shares of Franklin Resources during the second quarter worth $ 131,000. Dupont Capital Management Corp raised its benefit in Franklin Resources by 61.2% in the second quarter. Dupont Capital Management Corp now owns 4,168 shares of endowment fund stock worth $ 134,000 after the acquisition of 1,582 additional shares during the period. IMS Capital Management purchased a new share in Franklin Resources in the second quarter sold at around $ 161,000. Finally, LFA Lugano AC Financial Advisers purchased a new benefit in shares of Franklin Resources in the second quarter sold at around $ 192,000. The hedge funds and other institutional investors own 46.38% of the stock of the company.
BEN has been subject to a number of analytical reports. Barclays reduced their price objective on Franklin Resources from $ 32.00 to $ 30.00 and set a "pressured" scale for the company in a research report on Monday, July 30th. Wells Fargo & Co reduced their price objective on Franklin Resources from $ 35.00 to $ 34.00 and set a "market performance" rating for the company in a research report on Monday, July 30th. Morgan Stanley reduced their price objective on Franklin Resources from $ 32.00 to $ 30.00 and set a "pressured" scale for the company in a research report on Thursday, August 2nd. Zacks Investment Research has reduced Franklin's "catch" rating to a "strong sales" rating in a research report on Monday, August 6. Finally, Deutsche Bank dropped their price objective on Franklin Resources from $ 33.00 to $ 32.00 and set a "hold" grade for the company in a research report on Thursday, August 16th. Six analysts have rated the stock with a sales scale and six have rated the company's stock. Franklin Resources currently have a consensus rate of "Hold" and a consensus target price of $ 34.18.
In other news, EVP Craig Steven Tyle sold 11,165 shares of the Franklin Resources stock in a transaction that took place on Tuesday, September 4th. The shares were sold at an average price of $ 31.35, for a total transaction of $ 350,022.75. The sale was filed in legal filing with the Commission Securities & Exchange, which is available on this link. In addition, Jed A. Plafker sold 4,820 shares of the company's stock in a transaction held on Friday, September 21st. The shares were sold at an average price of $ 32.85, for a total transaction of $ 158,337.00. Upon completion of the transaction, the internal party now has 56,369 shares of the stock of the company, which is valued at approximately $ 1,851,721.65. The disclosure for this sale can be found here. Insiders owns 22.20% of the stock of the company.
Franklin Resources stock was opened at $ 31.93 on Friday. The company has a debt-to-equity ratio of 0.07, a rapid ratio of 3.37 and a current ratio of 3.71. Franklin Resources, Inc. 1-year low of $ 28.12 and a year high of $ 45.96. The company has market capitalization of $ 15.81 billion, price-to-earnings ratio of 10.01, price-to-earnings growth ratio of 1.05 and beta from 1.28.
Franklin Resources (NYSE: BEN) published its last quarterly earnings data on Thursday, October 25th. The fund stated the closing of earnings of $ 1.13 per share for the quarter, knocking out the Zacks consensus of $ 0.74 by $ 0.39. Franklin Resources had an equity return of 16.26% and a net edge of 12.10%. The revenue company had $ 1.53 billion for the quarter, compared to analyst estimates of $ 1.55 billion. As a group, analysts predict Franklin Resources, Inc. earn 2.9 earnings per share for the current financial year.
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Franklin Resources Company Profile
Franklin Resources, Inc. is a company that holds assets that are for the public. Through its subsidiaries, the company provides its services to individuals, organizations, pension schemes, trusts and partnerships. It launches equality, equity, balanced, equity and multi-asset funding through its subsidiaries.
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