Franklin Resources (BEN) : Clark Estates Incny scooped up 17,000 additional shares in Franklin Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 194,700 shares of Franklin Resources which is valued at $6,939,108.Franklin Resources makes up approximately 1.30% of Clark Estates Incny’s portfolio.
Other Hedge Funds, Including , Rs Investment Management Co reduced its stake in BEN by selling 180,599 shares or 30.8% in the most recent quarter. The Hedge Fund company now holds 405,813 shares of BEN which is valued at $14,142,583. Franklin Resources makes up approx 0.14% of Rs Investment Management Co’s portfolio.Conning reduced its stake in BEN by selling 100 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 9,185 shares of BEN which is valued at $320,097. Franklin Resources makes up approx 0.01% of Conning’s portfolio.Gateway Investment Advisers reduced its stake in BEN by selling 186 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 27,272 shares of BEN which is valued at $940,066. Franklin Resources makes up approx 0.01% of Gateway Investment Advisers’s portfolio. First Financial Bank N.a. – Trust Division sold out all of its stake in BEN during the most recent quarter. The investment firm sold 5,340 shares of BEN which is valued $172,482.
Franklin Resources closed down -0.26 points or -0.73% at $35.38 with 31,49,346 shares getting traded on Thursday. Post opening the session at $35.73, the shares hit an intraday low of $35.2499 and an intraday high of $35.8 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Franklin Resources reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.67. The company had revenue of $1634.30 million for the quarter, compared to analysts expectations of $1618.75 million. The company’s revenue was down -18.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.82 EPS.
Many Wall Street Analysts have commented on Franklin Resources. Shares were Downgraded by UBS on Jun 2, 2016 to ” Sell” and Lowered the Price Target to $ 28 from a previous price target of $39 .
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 Companys 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.