Novare Capital Management LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 87,341 shares of the closed-end fund’s stock, valued at approximately $3,888,000.

Several other large investors have also recently modified their holdings of BEN. Ameriprise Financial Inc. boosted its stake in shares of Franklin Resources by 138.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,372,129 shares of the closed-end fund’s stock valued at $150,106,000 after purchasing an additional 1,959,427 shares in the last quarter. APG Asset Management N.V. lifted its position in Franklin Resources by 57.3% during the 3rd quarter. APG Asset Management N.V. now owns 3,906,627 shares of the closed-end fund’s stock worth $173,884,000 after buying an additional 1,422,900 shares in the last quarter. Bank of New York Mellon Corp lifted its position in 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 worth $216,961,000 after buying an additional 1,288,818 shares in the last quarter. Nordea Investment Management AB lifted its position in Franklin Resources by 70.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock worth $75,684,000 after buying an additional 696,730 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Franklin Resources by 418.5% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 754,519 shares of the closed-end fund’s stock worth $33,584,000 after buying an additional 609,007 shares in the last quarter. Institutional investors own 46.01% of the company’s stock.

In other news, Chairman Gregory E. Johnson sold 56,825 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $87,684,702.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.60% of the company’s stock.

Shares of Franklin Resources, Inc. (NYSE BEN) traded up $0.10 during mid-day trading on Friday, hitting $40.55. The stock had a trading volume of 2,033,600 shares, compared to its average volume of 2,239,434. The company has a current ratio of 8.75, a quick ratio of 9.20 and a debt-to-equity ratio of 0.08. The company has a market cap of $22,405.58, a PE ratio of 13.48, a PEG ratio of 1.39 and a beta of 1.75. Franklin Resources, Inc. has a one year low of $38.17 and a one year high of $47.65.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. Franklin Resources’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. analysts anticipate that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 1st. Wells Fargo & Company reduced their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. UBS AG reiterated a “neutral” rating and set a $45.00 price target (down previously from $46.00) on shares of Franklin Resources in a research report on Monday, July 31st. BidaskClub downgraded shares of Franklin Resources from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Thursday, October 12th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $44.45.

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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.

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

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