Public Employees Retirement Association of Colorado Sells 3,025 Shares of Franklin Resources, Inc. (NYSE:BEN)

Public Employees Retirement Association of Colorado lessened its position in Franklin Resources, Inc. (NYSE:BEN) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,367 shares of the closed-end fund’s stock after selling 3,025 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Franklin Resources were worth $634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Franklin Resources by 11.1% in the first quarter. Vanguard Group Inc. now owns 35,889,477 shares of the closed-end fund’s stock worth $1,008,853,000 after purchasing an additional 3,592,943 shares during the period. Power Corp of Canada lifted its holdings in shares of Franklin Resources by 18,266.0% during the first quarter. Power Corp of Canada now owns 31,557,117 shares of the closed-end fund’s stock worth $887,071,000 after buying an additional 31,385,293 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Franklin Resources by 17.9% in the fourth quarter. Capital Research Global Investors now owns 26,652,644 shares of the closed-end fund’s stock valued at $793,983,000 after acquiring an additional 4,043,808 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Franklin Resources by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,183,950 shares of the closed-end fund’s stock worth $71,171,000 after acquiring an additional 54,063 shares during the last quarter. Finally, Vest Financial LLC increased its position in Franklin Resources by 29.6% during the second quarter. Vest Financial LLC now owns 1,801,732 shares of the closed-end fund’s stock worth $40,269,000 after acquiring an additional 411,845 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 2.0 %

BEN opened at $20.62 on Thursday. Franklin Resources, Inc. has a twelve month low of $18.94 and a twelve month high of $30.32. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.62 and a beta of 1.39. The firm’s 50-day simple moving average is $21.36 and its 200-day simple moving average is $23.35. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. Equities research analysts anticipate that Franklin Resources, Inc. will post 2.41 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Monday, September 30th. Franklin Resources’s dividend payout ratio is currently 70.86%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BEN shares. Keefe, Bruyette & Woods restated an “underperform” rating and set a $23.00 price objective on shares of Franklin Resources in a report on Thursday, August 22nd. Barclays assumed coverage on Franklin Resources in a research note on Tuesday, August 27th. They set an “underweight” rating and a $20.00 price target on the stock. Wells Fargo & Company assumed coverage on Franklin Resources in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $20.00 price objective for the company. BMO Capital Markets lowered their price objective on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Finally, Evercore ISI reduced their target price on Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources has an average rating of “Hold” and a consensus price target of $23.00.

Insider Transactions at Franklin Resources

In other Franklin Resources news, CEO Jennifer M. Johnson purchased 18,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the acquisition, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at approximately $4,544,055. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jennifer M. Johnson purchased 12,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,637,700 shares in the company, valued at $51,857,182. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer M. Johnson acquired 18,900 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the acquisition, the chief executive officer now directly owns 216,900 shares in the company, valued at approximately $4,544,055. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 231,600 shares of company stock worth $4,537,637. Insiders own 24.13% of the company’s stock.

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.