Caisse DE Depot ET Placement DU Quebec trimmed its holdings in Franklin Resources, Inc. (NYSE:BEN) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,208 shares of the closed-end fund’s stock after selling 13,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Franklin Resources were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Franklin Resources in the fourth quarter valued at $8,115,000. Corient Capital Partners LLC raised its stake in shares of Franklin Resources by 4.8% in the fourth quarter. Corient Capital Partners LLC now owns 63,987 shares of the closed-end fund’s stock valued at $2,773,000 after purchasing an additional 2,925 shares in the last quarter. Polaris Greystone Financial Group LLC acquired a new position in shares of Franklin Resources in the fourth quarter valued at $269,000. Haverford Financial Services Inc. raised its stake in shares of Franklin Resources by 49.2% in the fourth quarter. Haverford Financial Services Inc. now owns 10,990 shares of the closed-end fund’s stock valued at $478,000 after purchasing an additional 3,625 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Franklin Resources in the fourth quarter valued at $1,191,000. 46.95% of the stock is owned by institutional investors.
Franklin Resources, Inc. (NYSE BEN) opened at $39.83 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28. Franklin Resources, Inc. has a 12 month low of $37.01 and a 12 month high of $47.65. The stock has a market capitalization of $21,970.00, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.37 and a beta of 1.64.
The business also recently disclosed a special dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a dividend of $3.00 per share. This is a positive change from Franklin Resources’s previous special dividend of $0.50. This represents a yield of 2.35%. The ex-dividend date is Wednesday, March 28th. Franklin Resources’s dividend payout ratio is currently 28.66%.
In other Franklin Resources news, insider Jed A. Plafker sold 7,790 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $43.92, for a total transaction of $342,136.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory E. Johnson sold 49,988 shares of the 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 transaction, the chairman now owns 2,116,886 shares of the company’s stock, valued at $92,253,891.88. The disclosure for this sale can be found here. Corporate insiders own 22.20% of the company’s stock.
A number of research analysts recently commented on BEN shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 target price on shares of Franklin Resources in a research note on Friday, December 22nd. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Thursday, January 11th. ValuEngine lowered Franklin Resources from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Finally, Deutsche Bank cut their target price on Franklin Resources from $40.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, March 6th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Franklin Resources currently has an average rating of “Hold” and a consensus target price of $44.00.
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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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