Teachers Retirement System of The State of Kentucky Has $882,000 Stake in Franklin Resources, Inc. (BEN)

Teachers Retirement System of The State of Kentucky decreased its stake in Franklin Resources, Inc. (NYSE:BEN) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,000 shares of the closed-end fund’s stock after selling 6,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Franklin Resources were worth $882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BEN. Morgan Stanley boosted its holdings in Franklin Resources by 108.2% in the second quarter. Morgan Stanley now owns 3,197,116 shares of the closed-end fund’s stock valued at $102,468,000 after purchasing an additional 1,661,189 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Franklin Resources by 30.2% in the second quarter. Schroder Investment Management Group now owns 3,790,481 shares of the closed-end fund’s stock valued at $120,537,000 after purchasing an additional 879,164 shares during the last quarter. St. James Investment Company LLC purchased a new position in Franklin Resources in the third quarter valued at about $26,461,000. Renaissance Technologies LLC purchased a new position in Franklin Resources in the second quarter valued at about $18,677,000. Finally, Van ECK Associates Corp boosted its holdings in Franklin Resources by 114.1% in the second quarter. Van ECK Associates Corp now owns 992,451 shares of the closed-end fund’s stock valued at $31,808,000 after purchasing an additional 528,941 shares during the last quarter. 47.83% of the stock is owned by hedge funds and other institutional investors.

NYSE:BEN opened at $33.89 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.71 and a current ratio of 3.71. Franklin Resources, Inc. has a 52 week low of $28.12 and a 52 week high of $45.96. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.18 and a beta of 1.29.

Franklin Resources (NYSE:BEN) last released its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.39. Franklin Resources had a return on equity of 16.26% and a net margin of 12.10%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. On average, research analysts forecast that Franklin Resources, Inc. will post 2.88 earnings per share for the current fiscal year.

In other Franklin Resources news, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of the stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $32.42, for a total transaction of $10,471,660.00. Following the transaction, the insider now owns 103,653,045 shares of the company’s stock, valued at approximately $3,360,431,718.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jed A. Plafker sold 4,820 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $32.85, for a total value of $158,337.00. Following the transaction, the insider now directly owns 56,369 shares in the company, valued at approximately $1,851,721.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 338,985 shares of company stock worth $10,980,020. 22.20% of the stock is currently owned by company insiders.

A number of research analysts recently commented on the company. Zacks Investment Research raised Franklin Resources from a “strong sell” rating to a “hold” rating in a report on Friday, August 24th. Deutsche Bank reduced their price target on Franklin Resources from $30.00 to $29.00 and set a “hold” rating for the company in a report on Friday, November 16th. Credit Suisse Group reduced their price target on Franklin Resources from $28.00 to $26.00 and set an “underperform” rating for the company in a report on Friday, October 26th. ValuEngine raised Franklin Resources from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 20th. Finally, UBS Group reduced their price target on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.18.

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Franklin Resources Company Profile

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.

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

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