Greenwich Wealth Management LLC Raises Holdings in Franklin Resources, Inc. (NYSE:BEN)

Greenwich Wealth Management LLC raised its holdings in Franklin Resources, Inc. (NYSE:BEN) by 0.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 601,270 shares of the closed-end fund’s stock after purchasing an additional 1,353 shares during the quarter. Franklin Resources accounts for 0.8% of Greenwich Wealth Management LLC’s holdings, making the stock its 16th largest holding. Greenwich Wealth Management LLC owned 0.11% of Franklin Resources worth $12,116,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Franklin Resources by 11.1% during the first quarter. Vanguard Group Inc. now owns 35,889,477 shares of the closed-end fund’s stock worth $1,008,853,000 after buying an additional 3,592,943 shares during the period. Power Corp of Canada lifted its stake in Franklin Resources by 18,266.0% during the 1st quarter. Power Corp of Canada now owns 31,557,117 shares of the closed-end fund’s stock worth $887,071,000 after acquiring an additional 31,385,293 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Franklin Resources by 10.5% during the 2nd quarter. ProShare Advisors LLC now owns 7,095,390 shares of the closed-end fund’s stock valued at $158,582,000 after acquiring an additional 676,760 shares during the period. Dimensional Fund Advisors LP grew its position in Franklin Resources by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,183,950 shares of the closed-end fund’s stock valued at $71,171,000 after acquiring an additional 54,063 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Franklin Resources by 250.7% during the second quarter. AQR Capital Management LLC now owns 2,450,190 shares of the closed-end fund’s stock worth $54,664,000 after purchasing an additional 1,751,587 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Insider Transactions at Franklin Resources

In other news, CEO Jennifer M. Johnson acquired 12,700 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $19.66 per share, with a total value of $249,682.00. Following the purchase, the chief executive officer now owns 2,637,700 shares of the company’s stock, valued at $51,857,182. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jennifer M. Johnson purchased 18,900 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $20.95 per share, with a total value of $395,955.00. Following the purchase, the chief executive officer now directly owns 216,900 shares in the company, valued at $4,544,055. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jennifer M. Johnson acquired 12,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were bought at an average cost of $19.66 per share, for a total transaction of $249,682.00. Following the acquisition, the chief executive officer now owns 2,637,700 shares of the company’s stock, valued at $51,857,182. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 231,600 shares of company stock worth $4,537,637 and sold 24,024 shares worth $1,051,375. Company insiders own 24.13% of the company’s stock.

Franklin Resources Stock Performance

NYSE:BEN traded up $0.07 during mid-day trading on Friday, reaching $20.84. 6,586,023 shares of the stock were exchanged, compared to its average volume of 4,008,009. The company has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $22.06. The stock has a market capitalization of $10.90 billion, a P/E ratio of 12.79, a P/E/G ratio of 2.81 and a beta of 1.39. Franklin Resources, Inc. has a 1 year low of $18.94 and a 1 year high of $30.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93.

Franklin Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BEN shares. Barclays decreased their price target on shares of Franklin Resources from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group lowered their target price on Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a research note on Monday, September 30th. BMO Capital Markets reduced their price target on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Franklin Resources from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.43.

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.