American Financial Group Inc. held its stake in shares of Franklin Resources Inc. (NYSE:BEN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,000 shares of the closed-end fund’s stock at the end of the third quarter. American Financial Group Inc. owned 0.06% of Franklin Resources worth $11,738,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in BEN. Emerald Acquisition Ltd. bought a new stake in shares of Franklin Resources during the second quarter worth $31,205,000. Skandinaviska Enskilda Banken AB publ boosted its position in Franklin Resources by 1,068.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 762,566 shares of the closed-end fund’s stock valued at $25,447,000 after buying an additional 697,300 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Franklin Resources during the second quarter valued at $20,369,000. APG Asset Management N.V. boosted its position in Franklin Resources by 37.0% in the third quarter. APG Asset Management N.V. now owns 1,971,073 shares of the closed-end fund’s stock valued at $70,111,000 after buying an additional 532,046 shares in the last quarter. Finally, Kiltearn Partners LLP boosted its position in Franklin Resources by 10.6% in the second quarter. Kiltearn Partners LLP now owns 4,698,900 shares of the closed-end fund’s stock valued at $156,802,000 after buying an additional 451,700 shares in the last quarter. 46.99% of the stock is owned by institutional investors.
Shares of Franklin Resources Inc. (NYSE:BEN) opened at 39.32 on Monday. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 13.38 and a beta of 1.76. The company’s 50-day moving average price is $35.90 and its 200-day moving average price is $35.36. Franklin Resources Inc. has a 52-week low of $30.56 and a 52-week high of $42.23.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Wednesday, October 26th. The closed-end fund reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. Franklin Resources had a return on equity of 13.89% and a net margin of 26.09%. The business earned $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $0.59 earnings per share. Franklin Resources’s quarterly revenue was down 14.0% on a year-over-year basis. Equities research analysts forecast that Franklin Resources Inc. will post $2.68 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. Barclays PLC boosted their price objective on Franklin Resources from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America Corp. raised Franklin Resources from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 9th. Credit Suisse Group AG reissued an “underperform” rating on shares of Franklin Resources in a research report on Thursday, November 3rd. Finally, Deutsche Bank AG boosted their price objective on Franklin Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, October 5th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Franklin Resources has a consensus rating of “Hold” and an average price target of $37.81.
In related news, Vice Chairman Rupert H. Johnson, Jr. sold 300,000 shares of Franklin Resources stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $33.65, for a total transaction of $10,095,000.00. Following the completion of the transaction, the insider now owns 104,465,045 shares in the company, valued at $3,515,248,764.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.41% of the company’s stock.
Franklin Resources Company Profile