Virtu Financial LLC Takes Position in Franklin Resources, Inc. (NYSE:BEN)

Virtu Financial LLC acquired a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,693 shares of the closed-end fund's stock, valued at approximately $880,000.

Other large investors have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new stake in Franklin Resources in the 2nd quarter valued at approximately $27,000. Matrix Trust Co acquired a new stake in Franklin Resources during the 3rd quarter valued at $29,000. Sentry Investment Management LLC purchased a new position in Franklin Resources during the second quarter worth $30,000. Finally, Larson Financial Group LLC raised its holdings in shares of Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock worth $36,000 after acquiring an additional 1,277 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Franklin Resources

In related 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 completion of the sale, the insider now directly owns 65,862 shares in the company, valued at approximately $2,891,341.80. This represents a 10.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 24,024 shares of company stock valued at $1,051,375 over the last ninety days. Corporate insiders own 24.13% of the company's stock.

Franklin Resources Trading Down 0.6 %

Shares of NYSE BEN traded down $0.13 during trading on Friday, hitting $21.97. 2,497,004 shares of the company traded hands, compared to its average volume of 4,020,594. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $11.50 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.43 and a beta of 1.39. The company has a 50-day moving average price of $21.30 and a 200-day moving average price of $21.61. Franklin Resources, Inc. has a 1 year low of $18.94 and a 1 year high of $30.32.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly 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). The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $1.70 billion. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. Franklin Resources's revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. On average, equities analysts predict that Franklin Resources, Inc. will post 2.39 EPS for the current year.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be issued a $0.32 dividend. This is a positive change from Franklin Resources's previous quarterly dividend of $0.31. The ex-dividend date is Monday, December 30th. This represents a $1.28 annualized dividend and a yield of 5.83%. Franklin Resources's dividend payout ratio (DPR) is presently 148.84%.

Wall Street Analyst Weigh In

BEN has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company raised their price target on shares of Franklin Resources from $19.50 to $22.50 and gave the stock an "equal weight" rating in a research note on Thursday. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $19.00 price target (down from $20.00) on shares of Franklin Resources in a report on Tuesday, November 5th. StockNews.com raised shares of Franklin Resources from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Morgan Stanley lowered their target price on shares of Franklin Resources from $21.00 to $19.00 and set an "underweight" rating for the company in a research note on Friday, October 18th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.66.

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.