M&G Plc bought a new stake in shares of Franklin Resources, Inc. (NYSE:BEN – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,907 shares of the closed-end fund’s stock, valued at approximately $306,000.
Several other hedge funds have also bought and sold shares of BEN. International Assets Investment Management LLC bought a new position in shares of Franklin Resources during the 4th quarter valued at approximately $4,555,000. Bleakley Financial Group LLC purchased a new stake in shares of Franklin Resources in the fourth quarter worth $203,000. Allspring Global Investments Holdings LLC raised its position in shares of Franklin Resources by 15.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,592 shares of the closed-end fund’s stock valued at $554,000 after purchasing an additional 2,489 shares during the period. Simplicity Solutions LLC bought a new position in Franklin Resources in the 4th quarter worth $203,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Franklin Resources in the 4th quarter worth $506,000. Institutional investors own 47.56% of the company’s stock.
Insider Buying and Selling
In related news, major shareholder Charles B. Johnson bought 200,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were acquired at an average cost of $22.80 per share, for a total transaction of $4,560,000.00. Following the purchase, the insider now directly owns 88,703,192 shares of the company’s stock, valued at $2,022,432,777.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 24.13% of the stock is currently owned by insiders.
Analyst Ratings Changes
Franklin Resources Price Performance
Shares of BEN stock opened at $21.87 on Wednesday. The stock has a 50 day moving average price of $22.61 and a 200 day moving average price of $24.75. The firm has a market capitalization of $11.51 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.46 and a beta of 1.43. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.82 and a current ratio of 1.71. Franklin Resources, Inc. has a 52-week low of $20.92 and a 52-week high of $30.32.
Franklin Resources Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend was Friday, June 28th. Franklin Resources’s payout ratio is presently 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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