Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI lessened its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 41.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,027 shares of the closed-end fund’s stock after selling 150,908 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Franklin Resources were worth $4,313,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BEN. Plato Investment Management Ltd purchased a new stake in Franklin Resources in the first quarter valued at approximately $710,000. Zurich Insurance Group Ltd FI purchased a new position in Franklin Resources during the 1st quarter valued at about $1,538,000. SG Americas Securities LLC grew its position in Franklin Resources by 583.8% in the 1st quarter. SG Americas Securities LLC now owns 199,225 shares of the closed-end fund’s stock valued at $5,600,000 after acquiring an additional 170,089 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Franklin Resources by 46.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 278,268 shares of the closed-end fund’s stock worth $7,758,000 after purchasing an additional 88,700 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Franklin Resources by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 102,385 shares of the closed-end fund’s stock valued at $2,320,000 after purchasing an additional 4,248 shares during the period. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Up 1.5 %

BEN stock opened at $20.98 on Friday. The stock has a market cap of $11.04 billion, a P/E ratio of 11.99, a PEG ratio of 2.29 and a beta of 1.39. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. Franklin Resources, Inc. has a twelve month low of $18.94 and a twelve month high of $30.32. The company’s 50 day moving average is $20.44 and its two-hundred day moving average is $22.45.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. Research analysts expect that Franklin Resources, Inc. will post 2.4 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend was Monday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is currently 70.86%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BEN shares. The Goldman Sachs Group decreased their price target on shares of Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a research report on Monday, September 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $23.00 target price on shares of Franklin Resources in a report on Thursday, August 22nd. UBS Group cut their price target on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Evercore ISI decreased their price objective on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating for the company in a research note on Friday, October 4th. Finally, Barclays cut their target price on shares of Franklin Resources from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Monday, October 14th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.73.

Insider Activity

In related news, insider Franklin Resources Inc sold 7,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 36,519 shares in the company, valued at $1,596,245.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Franklin Resources Inc sold 7,900 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $43.71, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer M. Johnson acquired 12,700 shares of the stock in a transaction on Wednesday, August 28th. The shares were acquired at an average cost 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 $51,857,182. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 231,600 shares of company stock valued at $4,537,637 and sold 24,024 shares valued at $1,051,375. Company insiders own 24.13% of the company’s stock.

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.