Ferguson Wellman Capital Management Inc. downgraded its position to Franklin Resources, Inc. in the third quarter. (NYSE: BEN) at 4.8%, according to the submission of the company's last 13F to the Securities and Exchange Commission (SEC). The institutional investor owned 63 920 shares in closed-end funds, selling 3250 shares during the quarter. Ferguson Wellman Capital Management Inc. owned by Franklin Resources was worth $ 1944,000 from its most recent SEC submission.
Several other institutional investors and hedge funds have also recently made changes to their position at BEN. In the second quarter of 2008, Captrust's financial advisers increased their Franklin Resources shares by 605.1%. Kaptrust Financial Advisors currently hold 3,187 closed-end securities with a value of USD 103,000, gaining an additional 2775 shares during the period. Focused Wealth Management Inc got a new position at $ 131,000 in the second quarter of Franklin Resources. In the third quarter, the Steward Partners Investment Advisory Company increased its Franklin Resources shares in 1965. Steward Partners Investment Advisory LLC now owns 4,301 closed-end equity shares worth $ 131,000, gaining an additional 2850 shares during the period. In the second quarter, Dupont Capital Management Corp. increased its Franklin Resources shares by 61.2%. Now Dupont Capital Management Corp. now owns 4,168 closed-end fund shares with a value of 134,000 USD, after acquiring an additional 1582 shares during the period. Finally, IMS Capital Management acquired a new position in Franklin Resources in the second quarter with a value of $ 161,000. Institutional investors and hedge funds hold 46.38% of the company's shares.
BEN has been the subject of several recent analysts' reports. Barclays reduced its target price from $ 32.00 to $ 30.00 in its "Underweight" rating report on Monday, July 30. Wells Fargo & Co downgraded its Franklin Resources target from $ 35.00 to $ 34.00 $ and set the "market performance" rating for the stock report on Monday, July 30th. Morgan Stanley reduced its target price to Franklin Resources from $ 32.00 to $ 30.00 and sets the "underweight" rating in a stock report on Thursday, August 2. Zacks Investment Research's primeval, August 6th study report lowered Franklin Resources from the "Hold" rating to "strong sales" rating. Finally, Deutsche Bank reduced Franklin Resources's target price from $ 33.00 to $ 32.00 and on Thursday, August 16, setting a reserve rating for the study report. Six equity research analysts have evaluated stocks with a sales rating and six have assigned a holding rating to company shares. Franklin Resources is the Hold Consensus score and consensus target of $ 34.18.
NYSE: BEN traded $ 0.35 on Friday to $ 31.93. The company's trading volume amounted to 3,329,327 shares, compared with an average of 4,033,131. The company has a quick ratio of 3.37, the current ratio is 3.71 and the debt-to-equity ratio is 0.07. Franklin Resources, Inc. has a 52-week low of $ 28.12 and a maximum of $ 52.95 at $ 45.96. The company's market capitalization is $ 15.81 billion, the P / E ratio is 10.01, the P / E / G ratio is 1.05 and the beta is 1.28.
Franklin Resources (NYSE: BEN) last quarterly, October 25th, released its quarterly earnings data. The Closed-end Fund reported a yield of $ 1.13 per share (EPS) for the quarter, exceeding the Thomson Reuters Consensus estimate of $ 0.74 for $ 0.39. Franklin Resources had a return on capital of 16.26% and a net profit of 12.10%. The company had a quarterly revenue of $ 1.53 billion compared to a consolidated estimate of $ 1.55 billion. Usually sales analysts predict that Franklin Resources, Inc. will earn 2.9 earnings per share for the current year.
In related news, EVP Craig Steven Tyle has made 11,165 shares in the deal, dated Tuesday, September 4th. The stock was sold at an average price of $ 31.35 for a total transaction of $ 350,022.75. The transaction was discovered by submitting an application to the SEC, which can be accessed through the SEC website. Also, Jed A. Plafker sold 4,820 shares in a deal dated Friday 21st September. The stock was sold at an average cost of $ 32.85 for a total value of $ 158,337.00. After the transaction, the inside information now owns 56,369 shares of the company with a value of $ 1,851,721.65. Information on this sale can be found here. Corporate engineers own 22.20% of the company's shares.
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Franklin Resources Company profile
Franklin Resources, Inc. is a state-owned asset management company. With its subsidiary, the company provides services to individuals, institutions, pension plans, trusts and partnerships. Through its branches, capital, fixed income, balanced and multi-asset mutual funds are launched.
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