Amica Mutual Insurance Co buys $4,744,896 stake in Franklin Resources (BEN)

Franklin Resources (BEN) : Amica Mutual Insurance Co scooped up 30,889 additional shares in Franklin Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 133,134 shares of Franklin Resources which is valued at $4,744,896.Franklin Resources makes up approximately 0.45% of Amica Mutual Insurance Co’s portfolio.

Other Hedge Funds, Including , Wedge Capital Management L L Pnc boosted its stake in BEN in the latest quarter, The investment management firm added 73,442 additional shares and now holds a total of 712,751 shares of Franklin Resources which is valued at $25,794,459. Franklin Resources makes up approx 0.28% of Wedge Capital Management L L Pnc’s portfolio.Chatham Capital Group reduced its stake in BEN by selling 10,800 shares or 4.05% in the most recent quarter. The Hedge Fund company now holds 256,087 shares of BEN which is valued at $9,267,789. Franklin Resources makes up approx 2.81% of Chatham Capital Group’s portfolio.Compass Capital Management Inc boosted its stake in BEN in the latest quarter, The investment management firm added 53,486 additional shares and now holds a total of 524,118 shares of Franklin Resources which is valued at $18,967,830. Franklin Resources makes up approx 3.54% of Compass Capital Management Inc’s portfolio.Douglass Winthrop Advisors reduced its stake in BEN by selling 98,950 shares or 91.66% in the most recent quarter. The Hedge Fund company now holds 9,000 shares of BEN which is valued at $310,230. Franklin Resources makes up approx 0.02% of Douglass Winthrop Advisors’s portfolio.

Franklin Resources (BEN) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $36.52 and reached the intraday high at $36.9201. The bulls started the profit booking and pushed the shares to intraday low of $36.36. The trading session was marked by a volume range of 30,31,531 shares exchanging hands. The 52-week high of the shares is $44.94 and the 52-week low is $30.56. The market cap of the company stands at $20,988 M and there are 57,61,21,370 shares in public circulation.

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.

Many Wall Street Analysts have commented on Franklin Resources. Shares were Downgraded by UBS on Jun 2, 2016 to ” Sell” and Lowered the Price Target to $ 28 from a previous price target of $39 .

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 Company’s 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.

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