GHP Investment Advisors Inc. Has $1.814 Million Position in Franklin Resources, Inc. (BEN)

GHP Investment Advisors Inc. raised its stake in Franklin Resources, Inc. (NYSE:BEN) by 4.3% during the first quarter, Holdings Channel reports. The fund owned 43,055 shares of the closed-end fund’s stock after buying an additional 1,782 shares during the period. GHP Investment Advisors Inc.’s holdings in Franklin Resources were worth $1,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtus Investment Advisers Inc. acquired a new position in shares of Franklin Resources during the third quarter valued at about $104,000. TrimTabs Asset Management LLC raised its position in shares of Franklin Resources by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,991 shares of the closed-end fund’s stock valued at $126,000 after buying an additional 1,408 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Franklin Resources during the third quarter valued at about $128,000. SRB Corp raised its position in shares of Franklin Resources by 8.0% in the third quarter. SRB Corp now owns 4,302 shares of the closed-end fund’s stock valued at $153,000 after buying an additional 317 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Franklin Resources by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 4,571 shares of the closed-end fund’s stock valued at $181,000 after buying an additional 48 shares during the last quarter. Institutional investors own 48.31% of the company’s stock.

Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

Shares of Franklin Resources, Inc. (NYSE:BEN) traded up 0.94% during mid-day trading on Thursday, reaching $41.74. 1,142,502 shares of the company traded hands. Franklin Resources, Inc. has a 52 week low of $30.56 and a 52 week high of $44.35. The firm has a 50 day moving average of $42.17 and a 200-day moving average of $41.04. The stock has a market capitalization of $23.43 billion, a PE ratio of 13.45 and a beta of 1.78.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, April 28th. The closed-end fund reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.07. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Franklin Resources had a net margin of 26.77% and a return on equity of 13.88%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. On average, equities research analysts expect that Franklin Resources, Inc. will post $2.89 EPS for the current fiscal year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a research note on Wednesday, May 17th. Citigroup Inc increased their price target on shares of Franklin Resources from $40.00 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. Deutsche Bank AG upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating and increased their price target for the stock from $37.00 to $41.00 in a research note on Friday, February 24th. They noted that the move was a valuation call. Credit Suisse Group AG reiterated a “sell” rating and issued a $32.00 price target on shares of Franklin Resources in a research note on Sunday, February 5th. Finally, TheStreet upgraded shares of Franklin Resources from a “c” rating to a “b-” rating in a research note on Friday, March 3rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Franklin Resources presently has an average rating of “Hold” and a consensus price target of $40.06.

In other Franklin Resources news, Chairman Gregory E. Johnson sold 25,000 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $43.18, for a total value of $1,079,500.00. Following the completion of the transaction, the chairman now directly owns 2,162,863 shares in the company, valued at $93,392,424.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer M. Johnson sold 16,835 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $43.90, for a total transaction of $739,056.50. Following the completion of the transaction, the insider now owns 1,521,037 shares of the company’s stock, valued at $66,773,524.30. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

12 Month Chart for NYSE:BEN

Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN).

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