Trading Report: Today: 1,581 Shares of Franklin Resources Inc. (BEN) are sold by TIAA CREF Trust Co. FSB MO

Today: 1,581 Shares of Franklin Resources Inc. (BEN) are sold by TIAA CREF Trust Co. FSB MO

TIAA CREF Trust Co. FSB MO reduced its stake in shares of Franklin Resources Inc. (NYSE:BEN) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,159 shares of the closed-end fund’s stock after selling 1,581 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in Franklin Resources were worth $610,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Franklin Resources by 1,520.5% in the second quarter. Acadian Asset Management LLC now owns 3,160 shares of the closed-end fund’s stock valued at $105,000 after buying an additional 2,965 shares during the last quarter. FTB Advisors Inc. increased its position in shares of Franklin Resources by 8.4% in the second quarter. FTB Advisors Inc. now owns 3,208 shares of the closed-end fund’s stock worth $107,000 after buying an additional 248 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Franklin Resources by 21.1% in the second quarter. Van ECK Associates Corp now owns 3,347 shares of the closed-end fund’s stock worth $112,000 after buying an additional 583 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Franklin Resources by 426.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,352 shares of the closed-end fund’s stock worth $179,000 after buying an additional 4,335 shares in the last quarter. Finally, Alpha Windward LLC increased its position in shares of Franklin Resources by 24.5% in the second quarter. Alpha Windward LLC now owns 5,438 shares of the closed-end fund’s stock worth $181,000 after buying an additional 1,071 shares in the last quarter. Hedge funds and other institutional investors own 46.99% of the company’s stock.

Franklin Resources Inc. (NYSE:BEN) traded down 1.20% on Monday, reaching $38.85. The company’s stock had a trading volume of 893,516 shares. Franklin Resources Inc. has a 1-year low of $30.56 and a 1-year high of $42.23. The firm’s 50 day moving average price is $35.90 and its 200-day moving average price is $35.36. The company has a market capitalization of $22.10 billion, a price-to-earnings ratio of 13.22 and a beta of 1.76.

Franklin Resources (NYSE:BEN) last issued its earnings results on Wednesday, October 26th. The closed-end fund reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.13. The business earned $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. Franklin Resources had a return on equity of 13.89% and a net margin of 26.09%. Franklin Resources’s revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. Equities analysts forecast that Franklin Resources Inc. will post $2.68 earnings per share for the current year.

A number of equities analysts recently commented on BEN shares. Barclays PLC restated an “underweight” rating on shares of Franklin Resources in a report on Thursday, August 25th. Citigroup Inc. decreased their target price on Franklin Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, September 20th. Credit Suisse Group AG restated an “underperform” rating on shares of Franklin Resources in a report on Thursday, November 3rd. Jefferies Group upped their target price on Franklin Resources from $34.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, October 11th. Finally, Zacks Investment Research downgraded Franklin Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a strong buy rating to the company’s stock. Franklin Resources presently has a consensus rating of “Hold” and a consensus target price of $37.81.

In other news, Vice Chairman Rupert H. Johnson, Jr. sold 300,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $33.65, for a total value of $10,095,000.00. Following the completion of the transaction, the insider now directly owns 104,465,045 shares of the company’s stock, valued at approximately $3,515,248,764.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 20.41% of the stock is owned by insiders.

About Franklin Resources

Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.

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