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.

BEN has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a report on Friday, August 24th. Deutsche Bank cut their price target on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, August 16th. Wells Fargo & Co cut their price target on shares of Franklin Resources from $35.00 to $34.00 and set a “market perform” rating on the stock in a report on Monday, July 30th. UBS Group cut their price target on shares of Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. Finally, Credit Suisse Group cut their price target on shares of Franklin Resources from $28.00 to $26.00 and set an “underperform” rating on the stock in a report on Friday, October 26th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Franklin Resources has a consensus rating of “Hold” and an average target price of $34.27.

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.

WARNING: This article was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.dailypolitical.com/2018/11/14/candriam-luxembourg-s-c-a-has-14-50-million-position-in-franklin-resources-inc-ben.html.

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.

Featured Story: What is the NASDAQ Stock Market?

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).

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

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.