Toronto Dominion Bank boosted its stake in Franklin Resources, Inc. (NYSE:BEN – Free Report) by 74.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,079 shares of the closed-end fund’s stock after acquiring an additional 64,383 shares during the period. Toronto Dominion Bank’s holdings in Franklin Resources were worth $3,044,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BEN. MFA Wealth Advisors LLC acquired a new position in shares of Franklin Resources in the third quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources in the 2nd quarter valued at $27,000. Matrix Trust Co acquired a new position in Franklin Resources in the 3rd quarter valued at $29,000. Sentry Investment Management LLC acquired a new position in Franklin Resources in the 2nd quarter valued at $30,000. Finally, Larson Financial Group LLC raised its position in Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after buying an additional 1,277 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Franklin Resources
In other Franklin Resources news, insider Franklin Resources Inc sold 7,900 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $43.71, for a total transaction of $345,309.00. Following the sale, the insider now directly owns 36,519 shares of the company’s stock, valued at $1,596,245.49. This trade represents a 17.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 24,024 shares of company stock valued at $1,051,375 over the last three months. 24.13% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on Franklin Resources
Franklin Resources Price Performance
Shares of NYSE BEN opened at $21.97 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 2.43 and a beta of 1.39. The company’s 50-day moving average price is $21.30 and its 200 day moving average price is $21.59. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32.
Franklin Resources (NYSE:BEN – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Franklin Resources, Inc. will post 2.39 earnings per share for the current fiscal year.
Franklin Resources Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Monday, December 30th will be given a dividend of $0.32 per share. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.28 annualized dividend and a yield of 5.83%. Franklin Resources’s dividend payout ratio (DPR) is presently 148.84%.
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.
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