Diamond Hill Capital Management Inc buys $212,327,138 stake in Franklin Resources (BEN)

Franklin Resources (BEN) : Diamond Hill Capital Management Inc scooped up 97,822 additional shares in Franklin Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 5,975,996 shares of Franklin Resources which is valued at $212,327,138.Franklin Resources makes up approximately 1.27% of Diamond Hill Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Ironsides Asset Advisors added BEN to its portfolio by purchasing 10,800 company shares during the most recent quarter which is valued at $383,724. Franklin Resources makes up approx 0.11% of Ironsides Asset Advisors’s portfolio.Finemark National Bank Trust reduced its stake in BEN by selling 265 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 32,103 shares of BEN which is valued at $1,144,472. Franklin Resources makes up approx 0.12% of Finemark National Bank Trust’s portfolio.Blair William Coil reduced its stake in BEN by selling 225 shares or 1.72% in the most recent quarter. The Hedge Fund company now holds 12,836 shares of BEN which is valued at $457,603.Mizuho Trust Banking Ltd. boosted its stake in BEN in the latest quarter, The investment management firm added 117,211 additional shares and now holds a total of 935,498 shares of Franklin Resources which is valued at $33,341,149. Franklin Resources makes up approx 0.10% of Mizuho Trust Banking Ltd.’s portfolio.First Quadrant L Pca reduced its stake in BEN by selling 11,400 shares or 17.12% in the most recent quarter. The Hedge Fund company now holds 55,200 shares of BEN which is valued at $1,938,624. Franklin Resources makes up approx 0.04% of First Quadrant L Pca’s portfolio.

Franklin Resources opened for trading at $36.37 and hit $36.93 on the upside on Friday, eventually ending the session at $36.82, with a gain of 0.60% or 0.22 points. The heightened volatility saw the trading volume jump to 31,74,032 shares. Company has a market cap of $21,213 M.

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 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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