Vanguard Group Inc. increased its stake in Franklin Resources Inc. (NYSE:BEN) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,374,475 shares of the closed-end fund’s stock after buying an additional 251,984 shares during the period. Vanguard Group Inc. owned 4.40% of Franklin Resources worth $846,745,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Sii Investments Inc. WI increased its stake in shares of Franklin Resources by 0.4% in the second quarter. Sii Investments Inc. WI now owns 36,655 shares of the closed-end fund’s stock valued at $1,227,000 after buying an additional 130 shares in the last quarter. Brown Advisory Inc. boosted its position in Franklin Resources by 79.9% in the second quarter. Brown Advisory Inc. now owns 40,174 shares of the closed-end fund’s stock valued at $1,341,000 after buying an additional 17,841 shares during the last quarter. Prudential Financial Inc. boosted its position in Franklin Resources by 39.0% in the second quarter. Prudential Financial Inc. now owns 1,223,635 shares of the closed-end fund’s stock valued at $40,833,000 after buying an additional 343,600 shares during the last quarter. NewFocus Financial Group LLC boosted its position in Franklin Resources by 1.8% in the second quarter. NewFocus Financial Group LLC now owns 40,359 shares of the closed-end fund’s stock valued at $1,347,000 after buying an additional 698 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Franklin Resources by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,122,501 shares of the closed-end fund’s stock valued at $37,453,000 after buying an additional 59,529 shares during the last quarter. 48.39% of the stock is owned by hedge funds and other institutional investors.
Franklin Resources Inc. (NYSE:BEN) traded down 0.31% during trading on Monday, hitting $35.08. The stock had a trading volume of 340,447 shares. The company has a 50 day moving average of $35.99 and a 200-day moving average of $36.18. The company has a market cap of $20.21 billion, a P/E ratio of 12.98 and a beta of 1.75. Franklin Resources Inc. has a 12-month low of $30.56 and a 12-month high of $42.23.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, July 28th. The closed-end fund reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Franklin Resources had a return on equity of 12.98% and a net margin of 23.44%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was down 18.3% compared to the same quarter last year. On average, equities analysts predict that Franklin Resources Inc. will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, September 28th. Franklin Resources’s dividend payout ratio is presently 26.57%.
Several research firms have issued reports on BEN. Citigroup Inc. cut their price objective on Franklin Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 20th. Deutsche Bank AG increased their price objective on Franklin Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Barclays PLC reiterated an “underweight” rating on shares of Franklin Resources in a research report on Thursday, August 25th. Jefferies Group reiterated a “neutral” rating on shares of Franklin Resources in a research report on Tuesday, August 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Franklin Resources from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a strong buy rating to the company’s stock. Franklin Resources currently has a consensus rating of “Hold” and an average target price of $37.74.
In other news, EVP Craig Steven Tyle sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $36.18, for a total value of $180,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer M. Johnson sold 15,892 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $35.99, for a total value of $571,953.08. Following the completion of the sale, the insider now directly owns 1,473,782 shares in the company, valued at approximately $53,041,414.18. The disclosure for this sale can be found here. 20.41% of the stock is owned by insiders.
Franklin Resources Company Profile
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.
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