Franklin Resources, Inc. (BEN) Shares Sold by Sun Life Financial INC
Sun Life Financial INC lessened its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,823 shares of the closed-end fund’s stock after selling 1,695 shares during the period. Sun Life Financial INC’s holdings in Franklin Resources were worth $468,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Corient Capital Partners LLC increased its position in Franklin Resources by 4.8% during the 4th quarter. Corient Capital Partners LLC now owns 63,987 shares of the closed-end fund’s stock valued at $2,773,000 after buying an additional 2,925 shares in the last quarter. Polaris Greystone Financial Group LLC bought a new position in Franklin Resources during the 4th quarter valued at approximately $269,000. Haverford Financial Services Inc. increased its position in Franklin Resources by 49.2% during the 4th quarter. Haverford Financial Services Inc. now owns 10,990 shares of the closed-end fund’s stock valued at $478,000 after buying an additional 3,625 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Franklin Resources during the 4th quarter valued at approximately $1,191,000. Finally, Geode Capital Management LLC increased its position in Franklin Resources by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 3,742,985 shares of the closed-end fund’s stock valued at $161,870,000 after buying an additional 226,459 shares in the last quarter. 46.35% of the stock is owned by institutional investors.
Franklin Resources, Inc. (NYSE BEN) traded down $0.27 during trading on Monday, hitting $38.52. The company’s stock had a trading volume of 119,356 shares, compared to its average volume of 3,437,947. The company has a market cap of $21,400.00, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 1.31 and a beta of 1.64. Franklin Resources, Inc. has a twelve month low of $37.01 and a twelve month high of $47.65. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.09.
The firm also recently announced a special dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a $3.00 dividend. This is a positive change from Franklin Resources’s previous special dividend of $0.50. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a dividend yield of 2.35%. Franklin Resources’s dividend payout ratio (DPR) is presently 28.66%.
In related news, insider Jed A. Plafker sold 7,790 shares of Franklin Resources stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $43.92, for a total value of $342,136.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gregory E. Johnson sold 49,988 shares of Franklin Resources stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total value of $2,178,477.04. Following the completion of the sale, the chairman now directly owns 2,116,886 shares of the company’s stock, valued at approximately $92,253,891.88. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by company insiders.
A number of research analysts recently weighed in on the company. ValuEngine lowered Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research report on Friday, December 22nd. Finally, Zacks Investment Research raised 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. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Franklin Resources presently has a consensus rating of “Hold” and an average price target 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.
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