Franklin Resources, Inc. (NYSE:BEN) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC trimmed its holdings in Franklin Resources, Inc. (NYSE:BEN) by 8.7% during the first quarter, HoldingsChannel.com reports. The fund owned 9,014 shares of the closed-end fund’s stock after selling 856 shares during the period. AE Wealth Management LLC’s holdings in Franklin Resources were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Childress Capital Advisors LLC acquired a new position in shares of Franklin Resources in the 4th quarter valued at $27,000. Perigon Wealth Management LLC acquired a new position in Franklin Resources in the 4th quarter valued at $27,000. Regent Peak Wealth Advisors LLC acquired a new position in Franklin Resources in the 4th quarter valued at $31,000. AdvisorNet Financial Inc increased its stake in Franklin Resources by 229.9% in the 1st quarter. AdvisorNet Financial Inc now owns 1,300 shares of the closed-end fund’s stock valued at $38,000 after buying an additional 906 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Franklin Resources in the 4th quarter valued at $33,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on the stock. TheStreet raised shares of Franklin Resources from a “c+” rating to a “b” rating in a research note on Tuesday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Franklin Resources from $29.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, May 5th. Barclays boosted their target price on shares of Franklin Resources from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, January 25th. Morgan Stanley boosted their target price on shares of Franklin Resources from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Credit Suisse Group boosted their target price on shares of Franklin Resources from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $25.90.

NYSE BEN opened at $34.54 on Friday. Franklin Resources, Inc. has a 12 month low of $17.36 and a 12 month high of $35.54. The company has a 50-day moving average of $30.70 and a 200-day moving average of $26.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $17.42 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.38 and a beta of 1.25.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Tuesday, May 4th. The closed-end fund reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Franklin Resources had a net margin of 14.15% and a return on equity of 12.15%. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, equities research analysts anticipate that Franklin Resources, Inc. will post 3.01 EPS for the current year.

In other Franklin Resources news, CAO Gwen L. Shaneyfelt sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $33.25, for a total value of $166,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jed A. Plafker sold 20,782 shares of the stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $28.67, for a total transaction of $595,819.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,672 shares of company stock valued at $1,994,290. Corporate insiders own 23.10% of the company’s stock.

About Franklin Resources

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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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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