Mutual of America Capital Management LLC Has $1.05 Million Holdings in Franklin Resources, Inc. (NYSE:BEN)

Mutual of America Capital Management LLC increased its stake in Franklin Resources, Inc. (NYSE:BENGet Rating) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,526 shares of the closed-end fund’s stock after purchasing an additional 422 shares during the period. Mutual of America Capital Management LLC’s holdings in Franklin Resources were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BEN. State Street Corp boosted its stake in Franklin Resources by 3.5% in the 4th quarter. State Street Corp now owns 27,532,069 shares of the closed-end fund’s stock worth $929,900,000 after purchasing an additional 933,075 shares during the period. Capital Research Global Investors boosted its stake in Franklin Resources by 8.9% in the 4th quarter. Capital Research Global Investors now owns 8,613,180 shares of the closed-end fund’s stock worth $288,455,000 after purchasing an additional 701,374 shares during the period. CWM LLC acquired a new position in Franklin Resources in the 4th quarter worth $22,899,000. Alps Advisors Inc. acquired a new position in Franklin Resources in the 4th quarter worth $22,861,000. Finally, Goldman Sachs Group Inc. boosted its stake in Franklin Resources by 20.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,323,124 shares of the closed-end fund’s stock worth $77,801,000 after purchasing an additional 394,674 shares during the period. 43.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mariann H. Byerwalter sold 3,135 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $23.37, for a total transaction of $73,264.95. Following the sale, the director now owns 11,523 shares in the company, valued at approximately $269,292.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mariann H. Byerwalter sold 3,135 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $23.37, for a total transaction of $73,264.95. Following the sale, the director now owns 11,523 shares in the company, valued at approximately $269,292.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Franklin Resources Inc purchased 36,266 shares of Franklin Resources stock in a transaction that occurred on Tuesday, July 5th. The shares were purchased at an average price of $4.51 per share, for a total transaction of $163,559.66. Following the transaction, the insider now directly owns 93,166 shares in the company, valued at approximately $420,178.66. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 907,375 shares of company stock worth $4,000,029. Corporate insiders own 23.30% of the company’s stock.

Franklin Resources Stock Performance

Shares of NYSE:BEN opened at $27.45 on Friday. The company’s 50 day moving average price is $25.02 and its two-hundred day moving average price is $27.21. Franklin Resources, Inc. has a 12-month low of $22.61 and a 12-month high of $38.27. The firm has a market cap of $13.72 billion, a PE ratio of 7.38, a PEG ratio of 4.56 and a beta of 1.15. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.70.

Franklin Resources (NYSE:BENGet Rating) last announced its earnings results on Thursday, July 28th. The closed-end fund reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. Franklin Resources had a net margin of 22.02% and a return on equity of 18.34%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts predict that Franklin Resources, Inc. will post 3.45 earnings per share for the current year.

Franklin Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.16 annualized dividend and a dividend yield of 4.23%. Franklin Resources’s dividend payout ratio is 31.18%.

Analyst Ratings Changes

A number of equities analysts have recently commented on BEN shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Franklin Resources from $28.00 to $25.00 in a research note on Thursday, May 19th. Morgan Stanley reduced their price objective on shares of Franklin Resources from $27.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, June 30th. The Goldman Sachs Group started coverage on shares of Franklin Resources in a research note on Tuesday, June 28th. They set a “sell” rating and a $23.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of Franklin Resources from $29.00 to $27.00 in a research note on Wednesday, June 1st. Finally, UBS Group reduced their price objective on shares of Franklin Resources from $27.00 to $24.00 in a research note on Monday, July 11th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

About Franklin Resources

(Get Rating)

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

Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BENGet Rating).



Receive News & Ratings for Franklin Resources Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Franklin Resources and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published.