Metropolitan Life Insurance Co. NY lessened its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,171 shares of the closed-end fund’s stock after selling 2,649 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Franklin Resources were worth $1,544,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position 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 acquiring an additional 2,735 shares in the last quarter. Dupont Capital Management Corp boosted its stake in shares of Franklin Resources by 61.2% during the second quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock valued at $134,000 after acquiring an additional 1,582 shares during the last quarter. IMS Capital Management acquired a new stake in shares of Franklin Resources during the second quarter valued at $161,000. Brighton Jones LLC acquired a new stake in shares of Franklin Resources during the second quarter valued at $213,000. Finally, Baldwin Investment Management LLC acquired a new stake in shares of Franklin Resources during the second quarter valued at $215,000. Institutional investors and hedge funds own 46.82% of the company’s stock.

In related news, EVP Craig Steven Tyle sold 11,165 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jed A. Plafker sold 4,820 shares of the business’s stock in a transaction that occurred 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 transaction, 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 owned by company insiders.

BEN has been the topic of a number of analyst reports. Zacks Investment Research raised Franklin Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, August 24th. Deutsche Bank decreased their price target 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. Jefferies Financial Group reissued a “hold” rating and issued a $33.00 price target on shares of Franklin Resources in a research note on Friday, July 13th. Wells Fargo & Co decreased their price target 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. Finally, UBS Group cut their price objective on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.75.

Shares of NYSE:BEN remained flat at $$28.54 during mid-day trading on Friday. The company had a trading volume of 3,658,521 shares, compared to its average volume of 3,431,137. The stock has a market cap of $16.03 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.58 and a beta of 1.49. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a 1-year low of $28.12 and a 1-year high of $45.96.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, July 27th. The closed-end fund reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Franklin Resources had a return on equity of 15.40% and a net margin of 10.72%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm earned $0.73 EPS. Franklin Resources’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts expect that Franklin Resources, Inc. will post 3.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. Franklin Resources’s dividend payout ratio (DPR) is presently 30.56%.

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

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