Virtu Financial LLC Makes New $358,000 Investment in Franklin Resources, Inc. (NYSE:BEN)

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Virtu Financial LLC bought a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 12,411 shares of the closed-end fund’s stock, valued at approximately $358,000.

A number of other large investors have also recently made changes to their positions in BEN. Advisory Services Network LLC grew its holdings in shares of Franklin Resources by 232.6% during the second quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock valued at $25,000 after buying an additional 507 shares in the last quarter. Rational Advisors LLC increased its holdings in shares of Franklin Resources by 5,760.0% during the second quarter. Rational Advisors LLC now owns 879 shares of the closed-end fund’s stock worth $31,000 after buying an additional 864 shares in the last quarter. Smith Asset Management Group LP bought a new position in shares of Franklin Resources in the second quarter valued at approximately $32,000. Liberty Wealth Management LLC raised its stake in shares of Franklin Resources by 3,680.0% in the second quarter. Liberty Wealth Management LLC now owns 1,134 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 1,104 shares during the last quarter. Finally, TRUE Private Wealth Advisors bought a new position in shares of Franklin Resources in the second quarter valued at approximately $43,000. 48.67% of the stock is currently owned by institutional investors.

Shares of BEN opened at $26.38 on Wednesday. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.51 and a beta of 1.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 2.96. The business’s fifty day moving average price is $27.71 and its two-hundred day moving average price is $30.29. Franklin Resources, Inc. has a 52 week low of $25.57 and a 52 week high of $35.82.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, October 25th. The closed-end fund reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Franklin Resources had a return on equity of 12.28% and a net margin of 20.71%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that Franklin Resources, Inc. will post 2.6 EPS for the current year.

In related news, EVP Craig Steven Tyle sold 5,000 shares of Franklin Resources stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.57, for a total value of $137,850.00. Following the completion of the sale, the executive vice president now directly owns 113,793 shares in the company, valued at $3,137,273.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 23.90% of the stock is owned by company insiders.

BEN has been the topic of a number of research analyst reports. Barclays restated a “sell” rating and set a $24.00 price target on shares of Franklin Resources in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 price objective for the company in a research report on Thursday, September 12th. BMO Capital Markets assumed coverage on Franklin Resources in a research note on Monday, October 7th. They issued an “underperform” rating and a $16.00 price objective on the stock. ValuEngine upgraded Franklin Resources from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, TheStreet lowered Franklin Resources from a “b-” rating to a “c+” rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.92.

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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Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN).

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

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