Franklin Resources (BEN) : Academy Capital Management Inctx reduced its stake in Franklin Resources by 42.59% during the most recent quarter end. The investment management company now holds a total of 346,946 shares of Franklin Resources which is valued at $12,462,300 after selling 257,422 shares in Franklin Resources , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Franklin Resources makes up approximately 3.33% of Academy Capital Management Inctx’s portfolio.
Other Hedge Funds, Including , Simplex Trading sold out all of its stake in BEN during the most recent quarter. The investment firm sold 351 shares of BEN which is valued $12,608.Bnp Paribas Arbitrage Sa reduced its stake in BEN by selling 23,283 shares or 14.0% in the most recent quarter. The Hedge Fund company now holds 142,992 shares of BEN which is valued at $5,256,386. Franklin Resources makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.Chevy Chase Trust Holdings reduced its stake in BEN by selling 21,540 shares or 6.81% in the most recent quarter. The Hedge Fund company now holds 294,549 shares of BEN which is valued at $10,827,621. Franklin Resources makes up approx 0.06% of Chevy Chase Trust Holdings’s portfolio.North Star Asset Management Inc reduced its stake in BEN by selling 23,434 shares or 17.24% in the most recent quarter. The Hedge Fund company now holds 112,530 shares of BEN which is valued at $4,136,603. Franklin Resources makes up approx 0.47% of North Star Asset Management Inc’s portfolio.Washington Trust Bank boosted its stake in BEN in the latest quarter, The investment management firm added 463 additional shares and now holds a total of 1,378 shares of Franklin Resources which is valued at $50,655. Franklin Resources makes up approx 0.01% of Washington Trust Bank’s portfolio.
Franklin Resources closed down -0.28 points or -0.77% at $35.92 with 20,15,714 shares getting traded on Friday. Post opening the session at $36.2, the shares hit an intraday low of $35.67 and an intraday high of $36.26 and the price fluctuated in this range throughout the day.Shares ended Friday 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.
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.