Franklin Resources, Inc. (BEN) Position Raised by Gallagher Fiduciary Advisors LLC
Gallagher Fiduciary Advisors LLC increased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,870,829 shares of the closed-end fund’s stock after purchasing an additional 6,048 shares during the quarter. Franklin Resources makes up approximately 33.5% of Gallagher Fiduciary Advisors LLC’s portfolio, making the stock its 2nd biggest position. Gallagher Fiduciary Advisors LLC owned approximately 0.34% of Franklin Resources worth $83,271,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of 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 valued at $1,220,459,000 after purchasing an additional 318,449 shares during the period. BlackRock Inc. lifted its position in shares of Franklin Resources by 1.2% in the second quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock valued at $957,127,000 after acquiring an additional 249,766 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Franklin Resources by 2.4% in the second quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock valued at $463,506,000 after acquiring an additional 246,306 shares in the last quarter. Kiltearn Partners LLP lifted its position in shares of Franklin Resources by 0.8% in the second quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock valued at $274,057,000 after acquiring an additional 50,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Franklin Resources by 35.9% in the third 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 acquiring an additional 1,288,818 shares in the last quarter. Hedge funds and other institutional investors own 44.77% of the company’s stock.
Several analysts have recently issued reports on BEN shares. Barclays started coverage on Franklin Resources in a research report on Friday, September 8th. They issued an “underweight” rating and a $40.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 target price on shares of Franklin Resources in a research report on Sunday, September 3rd. Wells Fargo & Company reduced their target price on 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 increased their target price on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $44.45.
Franklin Resources, Inc. (BEN) opened at $43.13 on Thursday. Franklin Resources, Inc. has a 12-month low of $38.54 and a 12-month high of $47.65. The firm has a market capitalization of $23,358.30, a PE ratio of 14.06, a P/E/G ratio of 1.44 and a beta of 1.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.75 and a current ratio of 8.75.
Franklin Resources (NYSE:BEN) last released its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. analysts predict that Franklin Resources, Inc. will post 2.92 EPS for the current fiscal year.
In other Franklin Resources 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 transaction 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 $87,684,702.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.60% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/11/30/franklin-resources-inc-ben-position-raised-by-gallagher-fiduciary-advisors-llc.html.
About Franklin Resources
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.
Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN).
Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.