GPS Wealth Strategies Group LLC Has $515,000 Holdings in Franklin Resources, Inc. (NYSE:BEN)

GPS Wealth Strategies Group LLC cut its stake in Franklin Resources, Inc. (NYSE:BEN) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,037 shares of the closed-end fund’s stock after selling 1,201 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Franklin Resources were worth $515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Franklin Resources by 11.1% in the first quarter. Vanguard Group Inc. now owns 35,889,477 shares of the closed-end fund’s stock valued at $1,008,853,000 after buying an additional 3,592,943 shares during the period. Power Corp of Canada grew its holdings in shares of Franklin Resources by 18,266.0% during the 1st quarter. Power Corp of Canada now owns 31,557,117 shares of the closed-end fund’s stock worth $887,071,000 after purchasing an additional 31,385,293 shares in the last quarter. Capital Research Global Investors increased its position in shares of Franklin Resources by 17.9% during the fourth quarter. Capital Research Global Investors now owns 26,652,644 shares of the closed-end fund’s stock valued at $793,983,000 after purchasing an additional 4,043,808 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Franklin Resources by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,067,780 shares of the closed-end fund’s stock valued at $91,398,000 after purchasing an additional 154,850 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Franklin Resources by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,878,337 shares of the closed-end fund’s stock valued at $55,956,000 after purchasing an additional 37,474 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a report on Monday, July 29th. TD Cowen upped their price target on shares of Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Evercore ISI lowered their price objective on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating for the company in a research report on Tuesday, April 30th. Morgan Stanley boosted their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Franklin Resources from $25.00 to $23.00 and set an “underperform” rating on the stock in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.90.

Insider Buying and Selling at Franklin Resources

In related news, major shareholder Charles B. Johnson bought 200,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was bought at an average cost of $22.80 per share, for a total transaction of $4,560,000.00. Following the transaction, the insider now owns 88,703,192 shares of the company’s stock, valued at $2,022,432,777.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 24.13% of the company’s stock.

Franklin Resources Trading Up 2.4 %

Shares of Franklin Resources stock traded up $0.53 on Thursday, hitting $22.55. 412,248 shares of the company’s stock traded hands, compared to its average volume of 3,686,690. The firm’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $24.73. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.71 and a quick ratio of 1.82. The stock has a market capitalization of $11.86 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.43. Franklin Resources, Inc. has a one year low of $20.92 and a one year high of $30.32.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.24 dividend on an annualized basis and a yield of 5.50%. Franklin Resources’s dividend payout ratio is presently 70.86%.

Franklin Resources Company Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.