Virtu Financial LLC Takes Position in Franklin Resources, Inc. (NYSE:BEN)

Virtu Financial LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,411 shares of the closed-end fund’s stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Franklin Resources by 15.2% in the 2nd quarter. Vanguard Group Inc. now owns 37,527,041 shares of the closed-end fund’s stock valued at $1,305,941,000 after purchasing an additional 4,944,487 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Franklin Resources by 123.3% in the 3rd quarter. First Trust Advisors LP now owns 4,035,455 shares of the closed-end fund’s stock valued at $116,463,000 after acquiring an additional 2,228,215 shares during the period. APG Asset Management N.V. raised its stake in shares of Franklin Resources by 46.9% in the 2nd quarter. APG Asset Management N.V. now owns 6,018,027 shares of the closed-end fund’s stock valued at $183,902,000 after acquiring an additional 1,920,900 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Franklin Resources by 17,619.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,360,466 shares of the closed-end fund’s stock valued at $47,344,000 after acquiring an additional 1,352,788 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Franklin Resources by 148.5% during the 2nd quarter. Royal Bank of Canada now owns 1,129,235 shares of the closed-end fund’s stock worth $39,299,000 after purchasing an additional 674,759 shares during the period. 48.67% of the stock is owned by hedge funds and other institutional investors.

In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.57, for a total value of $137,850.00. Following the sale, the executive vice president now directly owns 113,793 shares of the company’s stock, valued at $3,137,273.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 23.90% of the stock is owned by corporate insiders.

Several research analysts have commented on the company. Evercore ISI reissued a “sell” rating and issued a $25.00 price objective on shares of Franklin Resources in a research report on Wednesday, November 13th. ValuEngine raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Deutsche Bank decreased their target price on Franklin Resources from $31.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. TheStreet lowered shares of Franklin Resources from a “b-” rating to a “c+” rating in a report on Friday, August 9th. Finally, Morgan Stanley cut their price objective on shares of Franklin Resources from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.92.

Shares of NYSE BEN opened at $26.38 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.21. Franklin Resources, Inc. has a twelve month low of $25.57 and a twelve month high of $35.82. The business has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $30.29.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, October 25th. The closed-end fund reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. Franklin Resources had a return on equity of 12.28% and a net margin of 20.71%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. As a group, equities analysts predict that Franklin Resources, Inc. will post 2.6 earnings per share for the current year.

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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