Victory Capital Management Inc. Sells 15,651 Shares of Franklin Resources, Inc. (NYSE:BEN)

Victory Capital Management Inc. lessened its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 838,620 shares of the closed-end fund’s stock after selling 15,651 shares during the period. Victory Capital Management Inc. owned 0.16% of Franklin Resources worth $24,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Franklin Resources by 13.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 27,592 shares of the closed-end fund’s stock valued at $678,000 after purchasing an additional 3,354 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Franklin Resources by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,254 shares of the closed-end fund’s stock worth $1,579,000 after buying an additional 4,591 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Franklin Resources by 12.3% in the 3rd quarter. Mackenzie Financial Corp now owns 38,336 shares of the closed-end fund’s stock valued at $895,000 after buying an additional 4,202 shares during the period. Strs Ohio increased its holdings in shares of Franklin Resources by 34.8% during the third quarter. Strs Ohio now owns 77,895 shares of the closed-end fund’s stock valued at $1,914,000 after acquiring an additional 20,126 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Franklin Resources by 1.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,202 shares of the closed-end fund’s stock worth $1,504,000 after buying an additional 895 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Price Performance

BEN opened at $23.48 on Thursday. The firm has a 50-day moving average price of $26.32 and a 200-day moving average price of $26.38. Franklin Resources, Inc. has a twelve month low of $21.88 and a twelve month high of $30.32. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.79 and a beta of 1.44.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Monday, April 29th. The closed-end fund reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Equities analysts expect that Franklin Resources, Inc. will post 2.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BEN shares. UBS Group increased their price objective on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Morgan Stanley lifted their price objective on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. BMO Capital Markets lowered their target price on shares of Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Franklin Resources from $29.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Finally, StockNews.com cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

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.