Veritas Asset Management Llp Cut Cvs Health (CVS) Position as Market Valuation Declined; Franklin Res (BEN) Stake Has Upped by First Allied Advisory Services Inc

June 23, 2018 - By wolcottdaily

Franklin Resources, Inc. (NYSE:BEN) Logo

First Allied Advisory Services Inc increased its stake in Franklin Res Inc (BEN) by 629.69% based on its latest 2018Q1 regulatory filing with the SEC. First Allied Advisory Services Inc bought 123,721 shares as the company’s stock declined 7.18% with the market. The institutional investor held 143,369 shares of the finance company at the end of 2018Q1, valued at $4.97 million, up from 19,648 at the end of the previous reported quarter. First Allied Advisory Services Inc who had been investing in Franklin Res Inc for a number of months, seems to be bullish on the $17.77B market cap company. The stock decreased 0.12% or $0.04 during the last trading session, reaching $32.9. About 6.09M shares traded or 71.48% up from the average. Franklin Resources, Inc. (NYSE:BEN) has declined 11.32% since June 23, 2017 and is downtrending. It has underperformed by 23.89% the S&P500. Some Historical BEN News: 02/05/2018 – Franklin Templeton – India Adds Lal PathLabs, Cuts HDFC; 02/05/2018 – Franklin Templeton – Biotech Adds Nektar, Exits Tesaro; 30/05/2018 – Report: Exploring Fundamental Drivers Behind The Ensign Group, Franklin Resources, Scholastic, Omega Healthcare Investors, Grea; 15/03/2018 – Franklin Limited Duration Income Trust Declares Monthly Distribution; 16/05/2018 – Franklin Templeton buys $2.25bn in Argentine bonds; 07/03/2018 – MOVES-Franklin Templeton, SocGen, Mercuria; 20/03/2018 – FRANKLIN RESOURCES INC – TERMS OF TRANSACTION WERE NOT DISCLOSED; 15/03/2018 – Franklin Universal Trust Declares Monthly Distribution; 26/04/2018 – FRANKLIN RESOURCES INC – QTRLY OPERATING REV $1,617.8 MLN VS 1,600.6 MLN REPORTED LAST YEAR; 26/04/2018 – CNBC Wires: Franklin Resources: Fiscal 2Q Earnings Snapshot

Veritas Asset Management Llp decreased its stake in Cvs Health Corp (CVS) by 2.58% based on its latest 2018Q1 regulatory filing with the SEC. Veritas Asset Management Llp sold 301,600 shares as the company’s stock declined 3.22% with the market. The institutional investor held 11.38 million shares of the medical and nursing services company at the end of 2018Q1, valued at $708.07 million, down from 11.68 million at the end of the previous reported quarter. Veritas Asset Management Llp who had been investing in Cvs Health Corp for a number of months, seems to be less bullish one the $73.38B market cap company. The stock increased 1.55% or $1.1 during the last trading session, reaching $72.18. About 9.11M shares traded or 4.81% up from the average. CVS Health Corporation (NYSE:CVS) has declined 13.06% since June 23, 2017 and is downtrending. It has underperformed by 25.63% the S&P500. Some Historical CVS News: 09/04/2018 – TABLE-CVS Bay 2687.T -2017/18 group forecast; 14/03/2018 – Blue Cross Blue Shield Institute is partnering with Lyft, Walgreens and CVS to offer rides to drugstores; 13/03/2018 – S&PGR Lowers Ratings On 12 CVS-Related CMBS Transactions; 11/04/2018 – CVS rolls out new tool to combat rising drug prices; 04/04/2018 – CVS Health Announces Plans to Focus on Kidney Care and Dialysis Treatment; 06/03/2018 – Bloomberg Markets: CVS $40 Billion Bond Sale; 14/03/2018 – The BCBS Institute will test the pharmacy rides at select Walgreens locations in Chicago and select CVS locations in Pittsburgh; 02/05/2018 – CVS 1Q ADJ EPS $1.48, EST. $1.41; 02/05/2018 – CVS Health Still Sees Aetna Deal Closing in Second Half of 2018; 06/03/2018 – S&PGR: Could Lower CVS Ratings if There Are Delays in Reducing Leverage

Investors sentiment increased to 0.9 in Q1 2018. Its up 0.18, from 0.72 in 2017Q4. It is positive, as 97 investors sold CVS shares while 512 reduced holdings. 117 funds opened positions while 431 raised stakes. 821.03 million shares or 0.67% more from 815.59 million shares in 2017Q4 were reported. Zeke Capital Advsr Limited holds 20,528 shares or 0.12% of its portfolio. Argyle invested in 42,810 shares. Thrivent For Lutherans invested in 1.31M shares or 0.28% of the stock. Argent Comm reported 37,919 shares. Pub Employees Retirement Of Ohio owns 703,504 shares. Williams Jones Associates Limited Com invested in 0.09% or 61,650 shares. Tradewinds Cap Mgmt Lc, Washington-based fund reported 4,339 shares. Lodestar Inv Counsel Lc Il stated it has 36,134 shares or 0.26% of all its holdings. Wesbanco National Bank & Trust reported 154,589 shares stake. Moreno Evelyn V has invested 1.76% in CVS Health Corporation (NYSE:CVS). Shufro Rose & Co Limited Co accumulated 0.09% or 14,314 shares. Endurant Mngmt Lp holds 104,111 shares. 24,750 were reported by House Ltd Llc. Rampart Investment Mngmt Ltd Liability Corp stated it has 10,842 shares. Personal Corporation holds 0% or 4,488 shares in its portfolio.

Analysts await CVS Health Corporation (NYSE:CVS) to report earnings on August, 14. They expect $1.61 EPS, up 21.05% or $0.28 from last year’s $1.33 per share. CVS’s profit will be $1.64B for 11.21 P/E if the $1.61 EPS becomes a reality. After $1.48 actual EPS reported by CVS Health Corporation for the previous quarter, Wall Street now forecasts 8.78% EPS growth.

Veritas Asset Management Llp, which manages about $12.35B US Long portfolio, upped its stake in American Express Co (NYSE:AXP) by 992,800 shares to 12.00M shares, valued at $1.12 billion in 2018Q1, according to the filing. It also increased its holding in China Lodging Group (NASDAQ:HTHT) by 12,000 shares in the quarter, for a total of 41,000 shares, and has risen its stake in Allergan Inc Com Usd0.01.

Among 26 analysts covering CVS Health (NYSE:CVS), 19 have Buy rating, 0 Sell and 7 Hold. Therefore 73% are positive. CVS Health had 77 analyst reports since July 22, 2015 according to SRatingsIntel. The stock has “Outperform” rating by Leerink Swann on Friday, February 9. On Tuesday, November 7 the stock rating was maintained by Jefferies with “Hold”. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Monday, June 20. The firm has “Neutral” rating given on Thursday, December 17 by Goldman Sachs. The rating was maintained by Needham on Friday, September 8 with “Hold”. On Wednesday, August 19 the stock rating was reinitiated by Evercore with “Buy”. Robert W. Baird downgraded CVS Health Corporation (NYSE:CVS) on Thursday, February 2 to “Neutral” rating. The firm has “Hold” rating by Wolfe Research given on Wednesday, August 16. Oppenheimer maintained the stock with “Buy” rating in Tuesday, August 8 report. Needham upgraded the shares of CVS in report on Friday, November 10 to “Buy” rating.

More notable recent CVS Health Corporation (NYSE:CVS) news were published by: 247Wallst.com which released: “6 Most Important Things in Business Today” on June 20, 2018, also Nasdaq.com with their article: “2 Incredibly Cheap Value Stocks to Buy Now” published on June 22, 2018, Gurufocus.com published: “CVS Is a Massive Bargain” on June 22, 2018. More interesting news about CVS Health Corporation (NYSE:CVS) were released by: Prnewswire.com and their article: “CVS Health Statement Regarding Ohio Department of Medicaid’s Report on PBM Performance for Managed Care Plans” published on June 21, 2018 as well as Seekingalpha.com‘s news article titled: “CVS And Aetna Are Changing The Healthcare Paradigm” with publication date: June 18, 2018.

Since February 16, 2018, it had 2 insider purchases, and 1 sale for $713,454 activity. BROWN C DAVID II had bought 10,000 shares worth $619,900. 24,300 shares valued at $1.51 million were bought by DORMAN DAVID W on Friday, May 4.

Among 16 analysts covering Franklin Resources Inc. (NYSE:BEN), 0 have Buy rating, 4 Sell and 12 Hold. Therefore 0 are positive. Franklin Resources Inc. had 96 analyst reports since July 31, 2015 according to SRatingsIntel. The rating was maintained by Wells Fargo with “Market Perform” on Friday, October 27. The rating was maintained by Jefferies on Wednesday, April 11 with “Hold”. The firm has “Sell” rating by Deutsche Bank given on Thursday, November 10. The stock of Franklin Resources, Inc. (NYSE:BEN) earned “Hold” rating by Deutsche Bank on Friday, October 9. Deutsche Bank maintained Franklin Resources, Inc. (NYSE:BEN) rating on Thursday, March 17. Deutsche Bank has “Hold” rating and $35 target. The stock of Franklin Resources, Inc. (NYSE:BEN) earned “Sell” rating by UBS on Thursday, June 2. The firm earned “Hold” rating on Monday, July 11 by Jefferies. The rating was downgraded by Bank of America on Monday, April 9 to “Hold”. The firm has “Underweight” rating by Morgan Stanley given on Tuesday, April 10. Deutsche Bank maintained it with “Hold” rating and $36.0 target in Friday, January 8 report.

First Allied Advisory Services Inc, which manages about $4.57B and $2.59B US Long portfolio, decreased its stake in First Tr Exchange Traded Fd (FDN) by 9,265 shares to 46,435 shares, valued at $5.59M in 2018Q1, according to the filing. It also reduced its holding in Oracle Corp (NYSE:ORCL) by 7,932 shares in the quarter, leaving it with 69,863 shares, and cut its stake in Ishares Tr (HYG).

Franklin Resources, Inc. (NYSE:BEN) Institutional Positions Chart

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