Franklin Resources, Inc. (BEN) Stake Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in Franklin Resources, Inc. (NYSE:BEN) by 20.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 878,588 shares of the closed-end fund’s stock after purchasing an additional 146,774 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Franklin Resources were worth $38,069,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Franklin Resources by 6.0% in the fourth quarter. BlackRock Inc. now owns 22,211,494 shares of the closed-end fund’s stock worth $962,425,000 after purchasing an additional 1,258,796 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Franklin Resources by 35.9% in the third quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock worth $216,961,000 after purchasing an additional 1,288,818 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Franklin Resources by 10.6% in the fourth quarter. APG Asset Management N.V. now owns 4,318,827 shares of the closed-end fund’s stock worth $155,842,000 after purchasing an additional 412,200 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Franklin Resources by 138.7% in the third quarter. Ameriprise Financial Inc. now owns 3,372,129 shares of the closed-end fund’s stock worth $150,106,000 after purchasing an additional 1,959,427 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Franklin Resources by 225.5% in the third quarter. JPMorgan Chase & Co. now owns 3,153,748 shares of the closed-end fund’s stock worth $140,499,000 after purchasing an additional 2,184,863 shares during the last quarter. Hedge funds and other institutional investors own 45.36% of the company’s stock.

Shares of Franklin Resources, Inc. (NYSE:BEN) opened at $38.72 on Friday. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.09. The firm has a market cap of $21,360.00, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.32 and a beta of 1.63. Franklin Resources, Inc. has a fifty-two week low of $37.01 and a fifty-two week high of $47.65.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Tuesday, January 30th. The closed-end fund reported $0.88 EPS for the quarter, beating the consensus estimate of $0.75 by $0.13. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. equities analysts expect that Franklin Resources, Inc. will post 3.25 EPS for the current year.

The company also recently disclosed a special dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be given a dividend of $3.00 per share. The ex-dividend date is Wednesday, March 28th. This represents a yield of 2.35%. This is a positive change from Franklin Resources’s previous special dividend of $0.50. Franklin Resources’s dividend payout ratio (DPR) is currently 28.66%.

Several analysts recently weighed in on the stock. ValuEngine cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Wells Fargo & Co cut their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 price target on shares of Franklin Resources in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Thursday, January 11th. Finally, UBS Group lifted their price target on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.45.

In other Franklin Resources news, Chairman Gregory E. Johnson sold 49,988 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total transaction of $2,178,477.04. Following the completion of the transaction, the chairman now owns 2,116,886 shares of the company’s stock, valued at $92,253,891.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $42.95, for a total value of $17,180,000.00. The disclosure for this sale can be found here. Insiders have sold 457,778 shares of company stock valued at $19,700,614 in the last three months. Insiders own 22.20% of the company’s stock.

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About Franklin Resources

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

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