Janus Henderson Group PLC lifted its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 36.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,954 shares of the closed-end fund’s stock after buying an additional 24,125 shares during the period. Janus Henderson Group PLC’s holdings in Franklin Resources were worth $4,005,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in BEN. Vanguard Group Inc. boosted its position in Franklin Resources by 1.2% in the second quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock worth $1,220,459,000 after purchasing an additional 318,449 shares during the last quarter. BlackRock Inc. lifted its position in shares of Franklin Resources by 1.2% during the 2nd quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock valued at $957,127,000 after buying an additional 249,766 shares in the last quarter. Kiltearn Partners LLP lifted its position in shares of Franklin Resources by 0.8% during the 2nd quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock valued at $274,057,000 after buying an additional 50,100 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Franklin Resources by 35.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after buying an additional 1,288,818 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Franklin Resources by 3.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,919,555 shares of the closed-end fund’s stock valued at $174,459,000 after buying an additional 138,472 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.
Shares of Franklin Resources, Inc. (BEN) opened at $43.53 on Friday. The stock has a market capitalization of $24,090.00, a P/E ratio of 14.46, a P/E/G ratio of 2.41 and a beta of 1.75. Franklin Resources, Inc. has a 12 month low of $39.23 and a 12 month high of $47.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.75 and a current ratio of 8.75.
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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, December 22nd. This is an increase from Franklin Resources’s previous quarterly dividend of $0.20. Franklin Resources’s dividend payout ratio (DPR) is 30.56%.
In other Franklin Resources news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of Franklin Resources stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $42.95, for a total value of $17,180,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Gregory E. Johnson sold 56,825 shares of Franklin Resources stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the completion of the sale, the chairman now directly owns 2,047,273 shares in the company, valued at approximately $87,684,702.59. The disclosure for this sale can be found here. Insiders have sold a total of 514,603 shares of company stock worth $22,134,429 in the last three months. 21.60% of the stock is owned by corporate insiders.
A number of research analysts have recently weighed in on BEN shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $46.00 price objective on shares of Franklin Resources in a research report on Wednesday, November 1st. ValuEngine raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Citigroup lowered their price objective on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research cut Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, UBS Group lifted their price objective on Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.55.
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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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