Franklin Resources, Inc. (NYSE:BEN) Stock Holdings Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Franklin Resources, Inc. (NYSE:BEN) by 46.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 51,632 shares of the closed-end fund’s stock after acquiring an additional 16,283 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Franklin Resources were worth $1,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new stake in shares of Franklin Resources in the 3rd quarter worth about $26,000. Altshuler Shaham Ltd bought a new stake in shares of Franklin Resources during the 2nd quarter valued at about $27,000. Matrix Trust Co bought a new stake in shares of Franklin Resources during the 3rd quarter valued at about $29,000. Sentry Investment Management LLC bought a new stake in shares of Franklin Resources during the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC bought a new stake in shares of Franklin Resources during the 1st quarter valued at about $32,000. Institutional investors own 47.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BEN. UBS Group lowered their price objective on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Barclays reduced 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. Wells Fargo & Company reduced their target price on shares of Franklin Resources from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on shares of Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a research note on Monday, September 30th. Finally, TD Cowen increased their price objective on shares of Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.43.

Insiders Place Their Bets

In other news, insider Franklin Resources Inc sold 7,900 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $43.71, for a total transaction of $345,309.00. Following the transaction, the insider now owns 36,519 shares in the company, valued at approximately $1,596,245.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Charles B. Johnson purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $19.08 per share, for a total transaction of $1,908,000.00. Following the transaction, the insider now directly owns 89,308,192 shares of the company’s stock, valued at approximately $1,704,000,303.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Franklin Resources Inc sold 7,900 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $43.71, for a total transaction of $345,309.00. Following the completion of the sale, the insider now owns 36,519 shares in the company, valued at $1,596,245.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 231,600 shares of company stock worth $4,537,637 and sold 24,024 shares worth $1,051,375. Insiders own 24.13% of the company’s stock.

Franklin Resources Stock Up 0.3 %

Shares of NYSE:BEN opened at $20.84 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market cap of $10.90 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.81 and a beta of 1.39. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32. The firm has a 50 day simple moving average of $20.21 and a 200 day simple moving average of $22.06.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.31 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 5.95%. Franklin Resources’s payout ratio is 76.07%.

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.