Community Trust & Investment Co. Purchases 76,481 Shares of Franklin Resources, Inc. $BEN

Community Trust & Investment Co. acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 76,481 shares of the closed-end fund’s stock, valued at approximately $2,457,000.

Other large investors have also recently added to or reduced their stakes in the company. Cibc World Market Inc. purchased a new stake in shares of Franklin Resources during the 2nd quarter worth about $4,418,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Franklin Resources during the 1st quarter valued at about $6,254,000. Deutsche Bank AG purchased a new position in Franklin Resources in the 2nd quarter worth approximately $37,742,000. Man Group plc purchased a new stake in shares of Franklin Resources during the second quarter valued at approximately $2,429,000. Finally, Kinloch Capital LLC acquired a new position in shares of Franklin Resources during the second quarter worth $5,737,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BEN has been the topic of several recent analyst reports. Evercore reiterated an “underperform” rating and issued a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Wall Street Zen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Keefe, Bruyette & Woods began coverage on shares of Franklin Resources in a report on Wednesday, September 9th. They issued a “hold” rating and a $38.00 price target for the company. Morgan Stanley upped their target price on Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, September 25th. Finally, UBS Group initiated coverage on Franklin Resources in a research note on Wednesday, October 7th. They issued a “buy” rating and a $40.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $35.89.

Franklin Resources Stock Performance

BEN opened at $31.36 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a market cap of $15.94 billion, a PE ratio of 10.90, a P/E/G ratio of 0.54 and a beta of 1.54. Franklin Resources, Inc. has a 1 year low of $21.10 and a 1 year high of $36.28. The stock’s 50 day simple moving average is $33.33 and its 200-day simple moving average is $31.71.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. Franklin Resources’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. Sell-side analysts forecast that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Franklin Resources’s dividend payout ratio is currently 89.80%.

About Franklin Resources

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.