Gallagher Fiduciary Advisors buys $77.3 Million stake in Franklin Resources (BEN)

Franklin Resources (BEN) : Gallagher Fiduciary Advisors scooped up 4,398 additional shares in Franklin Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,207,078 shares of Franklin Resources which is valued at $77.3 Million.Franklin Resources makes up approximately 35.24% of Gallagher Fiduciary Advisors’s portfolio.

Other Hedge Funds, Including , Lucus Advisors sold out all of its stake in BEN during the most recent quarter. The investment firm sold 12,185 shares of BEN which is valued $426,962.Diamond Hill Capital Management Inc boosted its stake in BEN in the latest quarter, The investment management firm added 68,773 additional shares and now holds a total of 5,878,174 shares of Franklin Resources which is valued at $206 Million. Franklin Resources makes up approx 1.32% of Diamond Hill Capital Management Inc’s portfolio.Rbo Co boosted its stake in BEN in the latest quarter, The investment management firm added 40,712 additional shares and now holds a total of 148,908 shares of Franklin Resources which is valued at $5.2 Million. Franklin Resources makes up approx 1.55% of Rbo Co’s portfolio.Great West Life Assurance Co Can reduced its stake in BEN by selling 255,526 shares or 51.34% in the most recent quarter. The Hedge Fund company now holds 242,199 shares of BEN which is valued at $9 Million. Franklin Resources makes up approx 0.03% of Great West Life Assurance Co Can’s portfolio.

Franklin Resources opened for trading at $36.74 and hit $37.58 on the upside on Wednesday, eventually ending the session at $37.49, with a gain of 2.52% or 0.92 points. The heightened volatility saw the trading volume jump to 38,96,576 shares. Company has a market cap of $21,929 M.

On the company’s financial health, Franklin Resources reported $0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.64. The company had revenue of $1613.90 million for the quarter, compared to analysts expectations of $1646.04 million. The company’s revenue was down -19.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Franklin Resources. Company shares were Reiterated by UBS on Apr 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 39 from a previous price target of $34 .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 .

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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