Altrius Capital Management Inc Acquires 41,247 Shares of Franklin Resources, Inc. (NYSE:BEN)

Altrius Capital Management Inc raised its stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 23.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,553 shares of the closed-end fund's stock after purchasing an additional 41,247 shares during the period. Altrius Capital Management Inc's holdings in Franklin Resources were worth $4,384,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BEN. Headlands Technologies LLC acquired a new position in Franklin Resources during the first quarter worth about $32,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Franklin Resources in the third quarter worth about $26,000. Sentry Investment Management LLC acquired a new position in shares of Franklin Resources during the second quarter worth $30,000. Finally, Matrix Trust Co purchased a new position in Franklin Resources in the third quarter valued at about $29,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Up 0.4 %

Shares of NYSE BEN traded up $0.09 during mid-day trading on Friday, reaching $21.67. The company had a trading volume of 3,343,302 shares, compared to its average volume of 4,023,037. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.71 and a current ratio of 1.39. Franklin Resources, Inc. has a twelve month low of $18.94 and a twelve month high of $30.32. The stock's 50 day moving average is $20.42 and its 200-day moving average is $21.82. The stock has a market capitalization of $11.35 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the company earned $0.84 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.4 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 5.72%. The ex-dividend date was Monday, September 30th. Franklin Resources's payout ratio is currently 144.19%.

Wall Street Analyst Weigh In

BEN has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Franklin Resources from $23.75 to $21.25 and set a "sell" rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on Franklin Resources from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. TD Cowen decreased their target price on Franklin Resources from $20.00 to $18.50 and set a "hold" rating for the company in a research report on Tuesday, November 5th. UBS Group dropped their price target on Franklin Resources from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. Finally, Barclays lowered their target price on shares of Franklin Resources from $20.00 to $19.00 and set an "underweight" rating for the company in a research note on Monday, October 14th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.20.

Insider Buying and Selling at Franklin Resources

In other Franklin Resources news, insider Franklin Resources Inc sold 7,657 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $43.90, for a total value of $336,142.30. Following the transaction, the insider now directly owns 65,862 shares in the company, valued at approximately $2,891,341.80. This trade represents a 10.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Charles B. Johnson acquired 100,000 shares of the company's stock in a transaction on Thursday, August 29th. The shares were purchased at an average cost of $19.84 per share, with a total value of $1,984,000.00. Following the completion of the acquisition, the insider now directly owns 89,208,192 shares in the company, valued at approximately $1,769,890,529.28. The trade was a 0.11 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 231,600 shares of company stock valued at $4,537,637 and sold 24,024 shares valued at $1,051,375. Insiders own 24.13% of the company's stock.

Franklin Resources Company 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.