Candriam Luxembourg S.C.A. Has $14.50 Million Position in Franklin Resources, Inc. (BEN)
Candriam Luxembourg S.C.A. boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 4.7% during the 3rd quarter, Holdings Channel reports. The firm owned 476,764 shares of the closed-end fund’s stock after acquiring an additional 21,378 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Franklin Resources were worth $14,498,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Pinebridge Investments L.P. bought a new position in Franklin Resources during the 2nd quarter valued at about $471,000. Royal London Asset Management Ltd. bought a new position in Franklin Resources during the 2nd quarter valued at about $4,272,000. Insight 2811 Inc. grew its holdings in Franklin Resources by 63.4% during the 2nd quarter. Insight 2811 Inc. now owns 26,554 shares of the closed-end fund’s stock valued at $851,000 after purchasing an additional 10,300 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Franklin Resources by 115.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 158,400 shares of the closed-end fund’s stock valued at $5,077,000 after purchasing an additional 84,790 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Franklin Resources by 24.5% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,808 shares of the closed-end fund’s stock valued at $571,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 46.38% of the company’s stock.
In other Franklin Resources news, insider Jed A. Plafker sold 4,820 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $32.85, for a total value of $158,337.00. Following the transaction, the insider now directly owns 56,369 shares in the company, valued at approximately $1,851,721.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig Steven Tyle sold 11,165 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The disclosure for this sale can be found here. 22.20% of the stock is owned by corporate insiders.
Shares of BEN stock opened at $31.09 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 3.71. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 1.05 and a beta of 1.28. Franklin Resources, Inc. has a one year low of $28.12 and a one year high of $45.96.
Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.39. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.26%. On average, equities analysts forecast that Franklin Resources, Inc. will post 2.94 EPS for the current fiscal year.
Franklin Resources 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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