Franklin Resources, Inc. (BEN) Shares Bought by Worldquant Millennium Quantitative Strategies LLC

Worldquant Millennium Quantitative Strategies LLC grew its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 24.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,641 shares of the closed-end fund’s stock after purchasing an additional 5,165 shares during the quarter. Worldquant Millennium Quantitative Strategies LLC’s holdings in Franklin Resources were worth $790,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Franklin Resources by 6.0% during the fourth quarter. Northern Trust Corp now owns 4,225,018 shares of the closed-end fund’s stock valued at $125,314,000 after acquiring an additional 239,848 shares in the last quarter. LPL Financial LLC grew its holdings in Franklin Resources by 25.2% during the fourth quarter. LPL Financial LLC now owns 55,768 shares of the closed-end fund’s stock worth $1,654,000 after buying an additional 11,210 shares in the last quarter. MML Investors Services LLC bought a new stake in Franklin Resources during the fourth quarter worth $226,000. Bank of New York Mellon Corp grew its holdings in Franklin Resources by 27.4% during the third quarter. Bank of New York Mellon Corp now owns 4,340,194 shares of the closed-end fund’s stock worth $131,985,000 after buying an additional 932,439 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in Franklin Resources by 3.3% during the third quarter. First Republic Investment Management Inc. now owns 63,262 shares of the closed-end fund’s stock worth $1,924,000 after buying an additional 1,999 shares in the last quarter. 49.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BEN traded down $0.55 during trading on Monday, reaching $34.91. 2,706,030 shares of the stock traded hands, compared to its average volume of 2,854,072. Franklin Resources, Inc. has a 52-week low of $27.34 and a 52-week high of $35.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.93 and a quick ratio of 3.93. The stock has a market capitalization of $17.85 billion, a PE ratio of 10.94, a P/E/G ratio of 2.02 and a beta of 1.18.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Wednesday, January 30th. The closed-end fund reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). Franklin Resources had a net margin of 26.55% and a return on equity of 15.01%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities analysts expect that Franklin Resources, Inc. will post 2.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.98%. Franklin Resources’s payout ratio is 32.60%.

In related news, EVP Craig Steven Tyle sold 10,663 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.82, for a total transaction of $349,959.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 22.20% of the company’s stock.

Several brokerages recently issued reports on BEN. Zacks Investment Research downgraded Franklin Resources from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of Franklin Resources in a report on Tuesday, February 26th. Citigroup downgraded Franklin Resources from a “neutral” rating to a “sell” rating in a report on Monday, January 14th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price objective on shares of Franklin Resources in a research report on Wednesday, January 9th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $23.00 price objective on shares of Franklin Resources in a research report on Monday, January 14th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Franklin Resources has a consensus rating of “Hold” and an average target price of $30.55.

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About Franklin Resources

Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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

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