Reinhart Partners buys $28,560,996 stake in Franklin Resources (BEN)

Franklin Resources (BEN) : Reinhart Partners scooped up 42,830 additional shares in Franklin Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 702,262 shares of Franklin Resources which is valued at $28,560,996.Franklin Resources makes up approximately 2.87% of Reinhart Partners’s portfolio.

Franklin Resources opened for trading at $40.47 and hit $40.99 on the upside on Friday, eventually ending the session at $40.67, with a gain of 0.32% or 0.13 points. The heightened volatility saw the trading volume jump to 18,56,902 shares. Company has a market cap of $24,103 M.

Other Hedge Funds, Including , Capital One National Association sold out all of its stake in BEN during the most recent quarter. The investment firm sold 5,539 shares of BEN which is valued $225,271.Simplex Trading reduced its stake in BEN by selling 1,764 shares or 77.17% in the most recent quarter. The Hedge Fund company now holds 522 shares of BEN which is valued at $20,624. Gierl Augustine Investment Management Inc added BEN to its portfolio by purchasing 2,655 company shares during the most recent quarter which is valued at $104,899. Franklin Resources makes up approx 0.10% of Gierl Augustine Investment Management Inc’s portfolio.Partnerre Asset Management Corp reduced its stake in BEN by selling 100 shares or 3.86% in the most recent quarter. The Hedge Fund company now holds 2,492 shares of BEN which is valued at $93,276. Franklin Resources makes up approx 0.05% of Partnerre Asset Management Corp’s portfolio.Chevy Chase Trust Holdings boosted its stake in BEN in the latest quarter, The investment management firm added 2,677 additional shares and now holds a total of 316,419 shares of Franklin Resources which is valued at $11,843,563. Franklin Resources makes up approx 0.07% of Chevy Chase Trust Holdings’s portfolio.

On the company’s financial health, Franklin Resources reported $0.74 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.75. The company had revenue of $1758.00 million for the quarter, compared to analysts expectations of $1762.26 million. The company’s revenue was down -14.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on Franklin Resources. Franklin Resources was Downgraded by BofA/Merrill to ” Underperform” on Mar 15, 2016. Company shares were Reiterated by Barclays on Mar 9, 2016 to “Underweight”, Firm has raised the Price Target to $ 32 from a previous price target of $31 .Shares were Reiterated by Barclays on Feb 9, 2016 to “Underweight” and Lowered the Price Target to $ 31 from a previous price target of $32 .

Franklin Resources Inc. (Franklin) is a holding company. Franklin together with its various subsidiaries (collectively the Company) is referred to as Franklin Templeton Investments is a global investment management organization offering investment management and related services under the Franklin Templeton Mutual Series Bissett Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally which include the United States- and non- United States-registered open-end and closed-end funds unregistered funds and institutional high net-worth and separately-managed accounts. The Company’s investment management and related services include fund administration shareholder services transfer agency underwriting distribution custodial trustee and other fiduciary services. Its sponsored investment products include a range of equity hybrid fixed-income and cash management funds and accounts including alternative investment products.

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