Toronto Dominion Bank grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 12.4% during the 4th quarter, Holdings Channel reports. The fund owned 141,654 shares of the closed-end fund’s stock after purchasing an additional 15,593 shares during the period. Toronto Dominion Bank’s holdings in Franklin Resources were worth $6,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in shares of Franklin Resources in the 4th quarter valued at $125,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Franklin Resources in the 3rd quarter valued at $127,000. Buckley Wealth Management LLC acquired a new position in shares of Franklin Resources in the 4th quarter valued at $202,000. Chicago Equity Partners LLC acquired a new position in shares of Franklin Resources in the 3rd quarter valued at $209,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Franklin Resources in the 3rd quarter valued at $210,000. 45.36% of the stock is currently owned by institutional investors and hedge funds.
Franklin Resources, Inc. (BEN) opened at $39.10 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28. The firm has a market cap of $21,571.61, a PE ratio of 33.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.63. Franklin Resources, Inc. has a 12 month low of $37.01 and a 12 month high of $47.65.
The business also recently announced a special dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a dividend of $3.00 per share. This represents a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change from Franklin Resources’s previous special dividend of $0.50. Franklin Resources’s dividend payout ratio (DPR) is 78.63%.
In other news, Chairman Gregory E. Johnson sold 49,988 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $43.58, for a total value of $2,178,477.04. Following the completion of the transaction, the chairman now owns 2,116,886 shares of the company’s stock, valued at $92,253,891.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $42.95, for a total transaction of $17,180,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 457,778 shares of company stock valued at $19,700,614. 22.20% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. UBS Group upped their price objective on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $46.00 target price on shares of Franklin Resources in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Citigroup reduced their target price on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $44.45.
TRADEMARK VIOLATION WARNING: “Toronto Dominion Bank Acquires 15,593 Shares of Franklin Resources, Inc. (BEN)” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.chaffeybreeze.com/2018/02/20/toronto-dominion-bank-acquires-15593-shares-of-franklin-resources-inc-ben.html.
Franklin Resources Profile
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.
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).
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.