XTX Topco Ltd lifted its holdings in Franklin Resources, Inc. (NYSE:BEN – Free Report) by 158.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,765 shares of the closed-end fund’s stock after buying an additional 25,014 shares during the period. XTX Topco Ltd’s holdings in Franklin Resources were worth $911,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Franklin Resources in the 1st quarter worth approximately $32,000. Principal Securities Inc. purchased a new position in shares of Franklin Resources in the 4th quarter worth approximately $35,000. Sentry Investment Management LLC purchased a new position in Franklin Resources in the second quarter valued at approximately $30,000. Trust Co. of Vermont purchased a new position in Franklin Resources in the fourth quarter valued at approximately $45,000. Finally, Denali Advisors LLC purchased a new position in Franklin Resources in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.
Insider Transactions at Franklin Resources
In other news, major shareholder Charles B. Johnson purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $19.08 per share, with a total value of $1,908,000.00. Following the completion of the acquisition, the insider now owns 89,308,192 shares in the company, valued at approximately $1,704,000,303.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Charles B. Johnson bought 100,000 shares of Franklin Resources stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $19.08 per share, with a total value of $1,908,000.00. Following the completion of the purchase, the insider now directly owns 89,308,192 shares in the company, valued at $1,704,000,303.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer M. Johnson acquired 12,700 shares of Franklin Resources stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the transaction, the chief executive officer now directly owns 2,637,700 shares in the company, valued at approximately $51,857,182. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 231,600 shares of company stock valued at $4,537,637. 24.13% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
View Our Latest Stock Report on BEN
Franklin Resources Trading Down 0.3 %
NYSE:BEN opened at $20.81 on Friday. The company has a market cap of $10.95 billion, a P/E ratio of 11.89, a P/E/G ratio of 2.45 and a beta of 1.39. The stock’s fifty day moving average price is $21.47 and its two-hundred day moving average price is $23.48. Franklin Resources, Inc. has a 1 year low of $18.94 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.71 and a quick ratio of 1.71.
Franklin Resources (NYSE:BEN – Get Free Report) last released its quarterly earnings results on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. As a group, analysts expect that Franklin Resources, Inc. will post 2.41 EPS for the current year.
Franklin Resources Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.31 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.24 annualized dividend and a dividend yield of 5.96%. Franklin Resources’s payout ratio is currently 70.86%.
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.
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