Qsemble Capital Management LP Takes Position in Franklin Resources, Inc. (NYSE:BEN)

Qsemble Capital Management LP acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 58,844 shares of the closed-end fund’s stock, valued at approximately $1,186,000.

Several other large investors have also recently modified their holdings of BEN. MFA Wealth Advisors LLC acquired a new position in shares of Franklin Resources during the third quarter worth $26,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources during the 2nd quarter worth $27,000. Matrix Trust Co acquired a new position in Franklin Resources during the 3rd quarter valued at about $29,000. Sentry Investment Management LLC purchased a new stake in Franklin Resources in the second quarter valued at about $30,000. Finally, Larson Financial Group LLC boosted its holdings in Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.

Insider Buying and Selling at Franklin Resources

In related news, major shareholder Charles B. Johnson purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average price of $19.08 per share, with a total value of $1,908,000.00. Following the purchase, the insider now owns 89,308,192 shares of the company’s stock, valued at $1,704,000,303.36. The trade was a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Franklin Resources Inc sold 8,467 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $43.69, for a total transaction of $369,923.23. Following the transaction, the insider now owns 51,019 shares of the company’s stock, valued at $2,229,020.11. This represents a 14.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,024 shares of company stock valued at $1,051,375. Corporate insiders own 24.13% of the company’s stock.

Franklin Resources Stock Down 2.2 %

Shares of BEN opened at $22.23 on Wednesday. The stock’s 50-day moving average price is $20.78 and its 200-day moving average price is $21.71. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.37 and a beta of 1.38. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the business earned $0.84 EPS. Franklin Resources’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Franklin Resources, Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BEN shares. Morgan Stanley cut their price objective on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company raised their price target on shares of Franklin Resources from $19.00 to $19.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen dropped their price objective on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, UBS Group dropped their price target on Franklin Resources from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.20.

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.