Zeke Capital Advisors LLC acquired a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,357 shares of the closed-end fund’s stock, valued at approximately $345,000.

A number of other hedge funds also recently modified their holdings of BEN. Squar Milner Financial Services LLC bought a new position in Franklin Resources in the third quarter worth approximately $100,000. Captrust Financial Advisors grew its stake in Franklin Resources by 605.1% in the second quarter. Captrust Financial Advisors now owns 3,187 shares of the closed-end fund’s stock worth $103,000 after purchasing an additional 2,735 shares in the last quarter. Focused Wealth Management Inc bought a new position in Franklin Resources in the second quarter worth approximately $131,000. Steward Partners Investment Advisory LLC grew its stake in Franklin Resources by 196.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 4,301 shares of the closed-end fund’s stock worth $131,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Dupont Capital Management Corp grew its stake in Franklin Resources by 61.2% in the second quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock worth $134,000 after purchasing an additional 1,582 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

In other news, EVP Craig Steven Tyle sold 11,165 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jed A. Plafker sold 4,820 shares of the stock in a transaction on Friday, September 21st. The shares were sold at an average price of $32.85, for a total value of $158,337.00. Following the sale, the insider now owns 56,369 shares of the company’s stock, valued at approximately $1,851,721.65. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by company insiders.

Shares of NYSE BEN opened at $31.93 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.07. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.10 and a beta of 1.28. Franklin Resources, Inc. has a 12-month low of $28.12 and a 12-month high of $45.96.

Franklin Resources (NYSE:BEN) last announced its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.39. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Franklin Resources had a return on equity of 16.26% and a net margin of 12.10%. As a group, equities research analysts expect that Franklin Resources, Inc. will post 2.9 EPS for the current year.

Several research analysts recently issued reports on BEN shares. Barclays dropped their price objective on Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, July 30th. Wells Fargo & Co dropped their price objective on Franklin Resources from $35.00 to $34.00 and set a “market perform” rating on the stock in a research note on Monday, July 30th. Morgan Stanley dropped their price objective on Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, August 2nd. Zacks Investment Research cut Franklin Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, August 6th. Finally, Deutsche Bank dropped their price objective on Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Franklin Resources presently has an average rating of “Hold” and an average target price of $34.18.

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

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