Gargoyle Investment Advisor Increases Stake in Franklin Res (BEN); Old Republic International Continues to Hold Position in Paychex (PAYX)

February 21, 2018 - By Hazel Jackson

Old Republic International Corp increased its stake in Paychex Inc (PAYX) by 18.92% based on its latest 2017Q3 regulatory filing with the SEC. Old Republic International Corp bought 52,000 shares as the company’s stock declined 2.74% while stock markets rallied. The institutional investor held 326,800 shares of the consumer services company at the end of 2017Q3, valued at $19.60 million, up from 274,800 at the end of the previous reported quarter. Old Republic International Corp who had been investing in Paychex Inc for a number of months, seems to be bullish on the $23.62 billion market cap company. The stock increased 0.54% or $0.35 during the last trading session, reaching $65.76. About 742,227 shares traded. Paychex, Inc. (NASDAQ:PAYX) has risen 11.22% since February 21, 2017 and is uptrending. It has underperformed by 5.48% the S&P500.

Gargoyle Investment Advisor Llc increased its stake in Franklin Res Inc (BEN) by 39.62% based on its latest 2017Q3 regulatory filing with the SEC. Gargoyle Investment Advisor Llc bought 18,000 shares as the company’s stock declined 1.15% while stock markets rallied. The institutional investor held 63,433 shares of the finance company at the end of 2017Q3, valued at $2.82 million, up from 45,433 at the end of the previous reported quarter. Gargoyle Investment Advisor Llc who had been investing in Franklin Res Inc for a number of months, seems to be bullish on the $21.88 billion market cap company. The stock increased 2.05% or $0.795 during the last trading session, reaching $39.655. About 2.16 million shares traded. Franklin Resources, Inc. (NYSE:BEN) has risen 19.40% since February 21, 2017 and is uptrending. It has outperformed by 2.70% the S&P500.

Investors sentiment increased to 0.84 in Q3 2017. Its up 0.02, from 0.82 in 2017Q2. It improved, as 39 investors sold BEN shares while 185 reduced holdings. 43 funds opened positions while 146 raised stakes. 240.11 million shares or 1.59% less from 243.98 million shares in 2017Q2 were reported. Greenwich Inv holds 6,000 shares. Thrivent Fin For Lutherans reported 46,848 shares. Highfields Management LP holds 4.29% of its portfolio in Franklin Resources, Inc. (NYSE:BEN) for 11.19M shares. Canada Pension Plan Board has invested 0.03% of its portfolio in Franklin Resources, Inc. (NYSE:BEN). Gargoyle Advisor Ltd Liability reported 1.04% stake. Amer Century Companies has invested 0.02% in Franklin Resources, Inc. (NYSE:BEN). Ariel Ltd Liability has invested 0.15% in Franklin Resources, Inc. (NYSE:BEN). Matarin Cap Mngmt Limited Liability Corporation holds 0.36% or 95,968 shares in its portfolio. Charter Tru Communication invested in 0.04% or 7,928 shares. California State Teachers Retirement invested in 597,356 shares. Strs Ohio has invested 0.04% in Franklin Resources, Inc. (NYSE:BEN). Pnc Fincl Serv Gp Incorporated holds 0.01% or 249,433 shares. 5,645 are owned by Croft. New England Research & Management Inc holds 1.17% or 35,900 shares. Brown Advisory accumulated 17,418 shares or 0% of the stock.

Since October 30, 2017, it had 0 buys, and 2 insider sales for $4.61 million activity.

Gargoyle Investment Advisor Llc, which manages about $353.70M and $272.32 million US Long portfolio, decreased its stake in Spdr S&P 500 Etf Tr (Put) (SPY) by 31,920 shares to 4,500 shares, valued at $11.31M in 2017Q3, according to the filing.

Among 16 analysts covering Franklin Resources Inc. (NYSE:BEN), 1 have Buy rating, 3 Sell and 12 Hold. Therefore 6% are positive. Franklin Resources Inc. had 88 analyst reports since July 31, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Sunday, August 9 by Standpoint Research. Deutsche Bank maintained it with “Hold” rating and $35 target in Thursday, March 17 report. Barclays Capital maintained the shares of BEN in report on Tuesday, August 11 with “Equal Weight” rating. The firm has “Sell” rating given on Thursday, June 2 by UBS. The company was maintained on Thursday, June 9 by Barclays Capital. Keefe Bruyette & Woods maintained Franklin Resources, Inc. (NYSE:BEN) rating on Friday, July 29. Keefe Bruyette & Woods has “Market Perform” rating and $37 target. On Wednesday, November 9 the stock rating was upgraded by Bank of America to “Neutral”. As per Monday, July 24, the company rating was downgraded by Wells Fargo. The rating was upgraded by Deutsche Bank to “Buy” on Wednesday, September 9. Citigroup maintained the stock with “Neutral” rating in Thursday, June 9 report.

Among 18 analysts covering Paychex (NASDAQ:PAYX), 1 have Buy rating, 2 Sell and 15 Hold. Therefore 6% are positive. Paychex had 44 analyst reports since August 14, 2015 according to SRatingsIntel. The stock of Paychex, Inc. (NASDAQ:PAYX) earned “Hold” rating by BMO Capital Markets on Monday, January 22. The stock of Paychex, Inc. (NASDAQ:PAYX) has “Hold” rating given on Tuesday, October 3 by Stifel Nicolaus. The rating was upgraded by Goldman Sachs on Friday, December 16 to “Buy”. The stock of Paychex, Inc. (NASDAQ:PAYX) earned “Underperform” rating by RBC Capital Markets on Thursday, December 22. The firm has “Sell” rating given on Thursday, December 22 by Compass Point. RBC Capital Markets maintained Paychex, Inc. (NASDAQ:PAYX) rating on Monday, November 20. RBC Capital Markets has “Sell” rating and $59.0 target. On Wednesday, October 4 the stock rating was maintained by Bank of America with “Buy”. On Friday, April 15 the stock rating was initiated by Compass Point with “Sell”. The rating was initiated by Sterne Agee CRT on Thursday, December 17 with “Neutral”. The firm earned “Hold” rating on Friday, September 4 by Zacks.

Investors sentiment decreased to 1.02 in Q3 2017. Its down 0.01, from 1.03 in 2017Q2. It turned negative, as 57 investors sold PAYX shares while 263 reduced holdings. 65 funds opened positions while 260 raised stakes. 238.82 million shares or 0.48% more from 237.67 million shares in 2017Q2 were reported. Assetmark Inc reported 56 shares stake. Weaver C Barksdale And Assoc Incorporated reported 16,837 shares. Texas Capital Savings Bank Tx holds 4,678 shares. Davis R M Inc, a Maine-based fund reported 5,455 shares. Chevy Chase Tru Holdings invested 0.08% in Paychex, Inc. (NASDAQ:PAYX). Estabrook Capital Mngmt invested in 0.01% or 900 shares. Capital Mngmt Corp Va has 62,712 shares. Univest Of Pennsylvania reported 6,631 shares. California-based Fdx Inc has invested 0.09% in Paychex, Inc. (NASDAQ:PAYX). Guyasuta Invest Advsrs has 0.05% invested in Paychex, Inc. (NASDAQ:PAYX). New Mexico Educational Retirement Board has 0.08% invested in Paychex, Inc. (NASDAQ:PAYX) for 29,698 shares. Somerset Trust Co holds 0.89% of its portfolio in Paychex, Inc. (NASDAQ:PAYX) for 28,081 shares. Texas Permanent School Fund stated it has 88,643 shares or 0.07% of all its holdings. Opus Invest Mgmt accumulated 99,700 shares. West Oak Ltd Liability Com has invested 0.74% in Paychex, Inc. (NASDAQ:PAYX).

Old Republic International Corp, which manages about $3.02B US Long portfolio, decreased its stake in Waste Management Inc (NYSE:WM) by 34,300 shares to 316,400 shares, valued at $24.77 million in 2017Q3, according to the filing. It also reduced its holding in Lilly Eli & Co (NYSE:LLY) by 123,500 shares in the quarter, leaving it with 176,500 shares, and cut its stake in Caterpillar Inc (NYSE:CAT).

Since September 25, 2017, it had 0 buys, and 7 insider sales for $8.57 million activity. On Thursday, January 4 Gioja Michael E sold $2.36M worth of Paychex, Inc. (NASDAQ:PAYX) or 34,311 shares. 15,000 Paychex, Inc. (NASDAQ:PAYX) shares with value of $930,000 were sold by Zaucha Laurie L.. $682,900 worth of Paychex, Inc. (NASDAQ:PAYX) shares were sold by Vossler Jennifer R..

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