Janus Henderson Group PLC lifted its stake in Franklin Resources, Inc. (NYSE:BEN) by 32.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,829 shares of the closed-end fund’s stock after acquiring an additional 16,023 shares during the period. Janus Henderson Group PLC’s holdings in Franklin Resources were worth $2,948,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEN. OppenheimerFunds Inc. bought a new position in shares of Franklin Resources in the 1st quarter worth $902,000. Wellington Management Group LLP bought a new position in shares of Franklin Resources in the 1st quarter worth $211,000. Teachers Advisors LLC raised its position in shares of Franklin Resources by 3.6% in the 1st quarter. Teachers Advisors LLC now owns 562,321 shares of the closed-end fund’s stock worth $23,696,000 after acquiring an additional 19,361 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Franklin Resources by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,218,230 shares of the closed-end fund’s stock worth $51,336,000 after acquiring an additional 7,809 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Franklin Resources in the 1st quarter worth $461,000. 45.43% of the stock is owned by hedge funds and other institutional investors.
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Shares of Franklin Resources, Inc. (BEN) traded down $0.20 on Friday, hitting $41.13. The stock had a trading volume of 1,961,200 shares, compared to its average volume of 2,239,517. Franklin Resources, Inc. has a 1 year low of $36.88 and a 1 year high of $47.65. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $22,934.02, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.75.
Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Franklin Resources had a return on equity of 13.60% and a net margin of 26.54%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. equities research analysts expect that Franklin Resources, Inc. will post 2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. Franklin Resources’s dividend payout ratio is currently 26.67%.
Several research analysts have recently commented on BEN shares. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a research report on Friday, July 14th. Wells Fargo & Company lowered Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research report on Monday, July 24th. Zacks Investment Research lowered Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. UBS AG reaffirmed a “neutral” rating and set a $45.00 target price (down from $46.00) on shares of Franklin Resources in a research report on Monday, July 31st. Finally, BidaskClub lowered Franklin Resources from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Franklin Resources has an average rating of “Hold” and a consensus target price of $44.45.
In other news, Chairman Gregory E. Johnson sold 56,825 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the transaction, the chairman now owns 2,047,273 shares in the company, valued at $87,684,702.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.60% of the company’s stock.
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.
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