Franklin Resources (BEN) : Rk Asset Management reduced its stake in Franklin Resources by 2.41% during the most recent quarter end. The investment management company now holds a total of 184,372 shares of Franklin Resources which is valued at $6,707,453 after selling 4,558 shares in Franklin Resources , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Franklin Resources makes up approximately 6.12% of Rk Asset Management’s portfolio.
Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in BEN by selling 5,654 shares or 5.93% in the most recent quarter. The Hedge Fund company now holds 89,734 shares of BEN which is valued at $3,223,245. Franklin Resources makes up approx 0.07% of Exxonmobil Investment Management Inc Tx’s portfolio.Advisory Services Network reduced its stake in BEN by selling 312 shares or 34.63% in the most recent quarter. The Hedge Fund company now holds 589 shares of BEN which is valued at $21,157.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.
Franklin Resources closed down -1.6 points or -4.40% at $34.78 with 40,78,953 shares getting traded on Tuesday. Post opening the session at $36, the shares hit an intraday low of $34.75 and an intraday high of $36.01 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.