Franklin Resources, Inc. (NYSE:BEN) Shares Bought by LS Investment Advisors LLC

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LS Investment Advisors LLC raised its holdings in Franklin Resources, Inc. (NYSE:BEN) by 3.1% in the second quarter, Holdings Channel reports. The fund owned 110,974 shares of the closed-end fund’s stock after buying an additional 3,318 shares during the period. LS Investment Advisors LLC’s holdings in Franklin Resources were worth $3,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BEN. Advisory Services Network LLC raised its stake in Franklin Resources by 232.6% during the 2nd quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock worth $25,000 after acquiring an additional 507 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in shares of Franklin Resources in the first quarter worth $25,000. Knuff & Co LLC acquired a new stake in shares of Franklin Resources in the first quarter worth $33,000. Liberty Wealth Management LLC increased its position in shares of Franklin Resources by 3,680.0% in the second quarter. Liberty Wealth Management LLC now owns 1,134 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 1,104 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of Franklin Resources in the second quarter worth $43,000. Institutional investors own 48.31% of the company’s stock.

NYSE BEN traded down $0.10 during trading hours on Tuesday, reaching $25.83. 1,006,709 shares of the company traded hands, compared to its average volume of 3,908,469. Franklin Resources, Inc. has a 12 month low of $25.84 and a 12 month high of $35.82. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $13.26 billion, a PE ratio of 8.10, a PEG ratio of 1.44 and a beta of 1.17. The company has a 50 day moving average of $31.61 and a two-hundred day moving average of $33.01.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Tuesday, July 30th. The closed-end fund reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.15). Franklin Resources had a net margin of 23.80% and a return on equity of 13.43%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $0.75 earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 2.59 earnings per share for the current year.

In other news, EVP Craig Steven Tyle sold 10,924 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $32.04, for a total value of $350,004.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 23.90% of the company’s stock.

Several research firms have recently issued reports on BEN. JPMorgan Chase & Co. increased their price objective on shares of Franklin Resources from $33.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, July 12th. Citigroup upped their target price on shares of Franklin Resources from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. ValuEngine downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Barclays set a $27.00 target price on shares of Franklin Resources and gave the company a “sell” rating in a research note on Wednesday, July 31st. Finally, TheStreet downgraded shares of Franklin Resources from a “b-” rating to a “c+” rating in a research note on Friday, August 9th. Eight research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Sell” and a consensus price target of $31.18.

About Franklin Resources

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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Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN).

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

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