UBS Group AG Has $7.12 Million Position in Franklin Resources, Inc. (BEN)

UBS Group AG increased its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 31.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,858 shares of the closed-end fund’s stock after buying an additional 40,817 shares during the period. UBS Group AG’s holdings in Franklin Resources were worth $7,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Franklin Resources by 5.2% in the first quarter. Vanguard Group Inc. now owns 26,930,042 shares of the closed-end fund’s stock worth $1,134,833,000 after buying an additional 1,337,903 shares during the period. Kiltearn Partners LLP increased its position in Franklin Resources by 2.9% in the first quarter. Kiltearn Partners LLP now owns 6,068,600 shares of the closed-end fund’s stock worth $255,731,000 after buying an additional 169,000 shares during the period. FMR LLC increased its position in Franklin Resources by 2.3% in the first quarter. FMR LLC now owns 5,340,482 shares of the closed-end fund’s stock worth $225,047,000 after buying an additional 121,316 shares during the period. Geode Capital Management LLC increased its position in Franklin Resources by 3.2% in the first quarter. Geode Capital Management LLC now owns 3,529,852 shares of the closed-end fund’s stock worth $148,544,000 after buying an additional 109,308 shares during the period. Finally, Norges Bank bought a new position in Franklin Resources during the fourth quarter worth $93,377,000. 45.54% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

Franklin Resources, Inc. (NYSE BEN) opened at 43.98 on Friday. The company has a market cap of $24.69 billion, a PE ratio of 14.17 and a beta of 1.73. Franklin Resources, Inc. has a 12-month low of $30.56 and a 12-month high of $45.21. The firm’s 50-day moving average price is $42.92 and its 200-day moving average price is $41.69.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, April 28th. The closed-end fund reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Franklin Resources had a net margin of 27.77% and a return on equity of 14.34%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that Franklin Resources, Inc. will post $2.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.82%. Franklin Resources’s dividend payout ratio is currently 25.81%.

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Several brokerages recently commented on BEN. Morgan Stanley downgraded Franklin Resources from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a research note on Thursday, March 16th. BidaskClub raised Franklin Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Citigroup Inc. reaffirmed a “neutral” rating and set a $43.00 price objective (up previously from $42.00) on shares of Franklin Resources in a research note on Friday, June 9th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, May 17th. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $37.00 price objective on shares of Franklin Resources in a research note on Friday, April 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.33.

In other news, CFO Kenneth A. Lewis sold 17,141 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $44.51, for a total transaction of $762,945.91. Following the completion of the sale, the chief financial officer now directly owns 124,021 shares of the company’s stock, valued at $5,520,174.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.60% of the stock is currently owned by corporate insiders.

Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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