Axa S.A. Sells 279,400 Shares of Franklin Resources, Inc. (NYSE:BEN)

Axa S.A. reduced its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 65.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,733 shares of the closed-end fund's stock after selling 279,400 shares during the quarter. Axa S.A.'s holdings in Franklin Resources were worth $2,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BEN. Wilmington Savings Fund Society FSB purchased a new position in shares of Franklin Resources in the 3rd quarter worth about $118,000. Retirement Systems of Alabama raised its position in Franklin Resources by 2.0% in the third quarter. Retirement Systems of Alabama now owns 67,444 shares of the closed-end fund's stock worth $1,359,000 after acquiring an additional 1,297 shares during the period. GAMMA Investing LLC boosted its stake in Franklin Resources by 10.6% in the fourth quarter. GAMMA Investing LLC now owns 7,559 shares of the closed-end fund's stock valued at $153,000 after acquiring an additional 725 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Franklin Resources by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,918 shares of the closed-end fund's stock valued at $683,000 after acquiring an additional 722 shares during the period. Finally, ORG Wealth Partners LLC raised its holdings in shares of Franklin Resources by 59.5% in the 4th quarter. ORG Wealth Partners LLC now owns 10,047 shares of the closed-end fund's stock worth $204,000 after purchasing an additional 3,747 shares during the period. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources Trading Up 1.9 %

Franklin Resources stock opened at $20.46 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $24.86. The stock has a market cap of $10.74 billion, a P/E ratio of 31.47, a PEG ratio of 2.31 and a beta of 1.39. The firm's fifty day moving average price is $18.97 and its 200-day moving average price is $20.19.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.44 billion. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The company's revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. Equities research analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. BMO Capital Markets lifted their price objective on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods lifted their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Monday, February 3rd. Finally, TD Cowen dropped their price target on shares of Franklin Resources from $20.00 to $17.50 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Five equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of "Hold" and a consensus target price of $19.46.

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.

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