Oregon Public Employees Retirement Fund held its position in Franklin Resources, Inc. (NYSE:BEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,144 shares of the closed-end fund’s stock at the end of the second quarter. Oregon Public Employees Retirement Fund’s holdings in Franklin Resources were worth $3,545,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its position in Franklin Resources by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,991 shares of the closed-end fund’s stock valued at $126,000 after buying an additional 1,408 shares during the period. Acadian Asset Management LLC acquired a new position in Franklin Resources during the first quarter valued at $193,000. Global X Management Co. LLC boosted its position in Franklin Resources by 7.9% in the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after buying an additional 337 shares during the period. Investment Centers of America Inc. acquired a new position in Franklin Resources during the first quarter valued at $201,000. Finally, Mogy Joel R Investment Counsel Inc. acquired a new position in Franklin Resources during the first quarter valued at $202,000. 45.68% of the stock is currently owned by institutional investors.
Franklin Resources, Inc. (NYSE:BEN) traded down 0.55% during midday trading on Friday, reaching $41.83. The company had a trading volume of 1,796,698 shares. The company has a market cap of $23.33 billion, a PE ratio of 13.61 and a beta of 1.73. The company’s 50-day moving average is $44.91 and its 200 day moving average is $42.97. Franklin Resources, Inc. has a 52-week low of $33.02 and a 52-week high of $47.65.
Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that Franklin Resources, Inc. will post $2.95 EPS for the current year.
Several research firms have weighed in on BEN. BidaskClub cut Franklin Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. UBS AG reaffirmed a “neutral” rating and set a $45.00 target price (down previously from $46.00) on shares of Franklin Resources in a research note on Monday, July 31st. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 target price on shares of Franklin Resources in a research note on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 target price (up previously from $39.00) on shares of Franklin Resources in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.18.
In other news, CFO Kenneth A. Lewis sold 17,141 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $44.51, for a total value of $762,945.91. Following the completion of the sale, the chief financial officer now directly owns 124,021 shares of the company’s stock, valued at $5,520,174.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.60% of the company’s stock.
Franklin Resources Company Profile
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.
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