Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Franklin Resources, Inc. (NYSE:BEN) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,207 shares of the closed-end fund’s stock after selling 6,151 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Franklin Resources were worth $2,652,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BEN. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Franklin Resources in the second quarter valued at $123,000. Cerebellum GP LLC acquired a new stake in shares of Franklin Resources in the fourth quarter valued at $125,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Franklin Resources in the third quarter valued at $127,000. Chicago Equity Partners LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at $209,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at $210,000. Institutional investors own 45.03% of the company’s stock.

Franklin Resources, Inc. (BEN) opened at $38.22 on Friday. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.09. Franklin Resources, Inc. has a 1-year low of $37.01 and a 1-year high of $47.65. The stock has a market capitalization of $21,086.13, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63.

Franklin Resources (NYSE:BEN) last issued its earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.13. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business earned $0.77 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. sell-side analysts expect that Franklin Resources, Inc. will post 3.25 EPS for the current year.

In other Franklin Resources news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $42.95, for a total transaction of $17,180,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jed A. Plafker sold 7,790 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 457,778 shares of company stock worth $19,700,614. Company insiders own 22.20% of the company’s stock.

A number of brokerages recently commented on BEN. ValuEngine lowered Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Wells Fargo & Co lowered their price objective on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a research report on Friday, December 22nd. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Thursday, January 11th. Finally, UBS Group lifted their price objective on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Franklin Resources has an average rating of “Hold” and an average target price of $44.45.

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

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