Axa trimmed its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,505 shares of the closed-end fund’s stock after selling 10,252 shares during the period. Axa’s holdings in Franklin Resources were worth $1,277,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Franklin Resources by 5.2% during 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 purchasing an additional 1,337,903 shares in the last quarter. BlackRock Inc. lifted its position in shares of Franklin Resources by 1,550.0% during the first quarter. BlackRock Inc. now owns 21,119,419 shares of the closed-end fund’s stock worth $889,973,000 after purchasing an additional 19,839,472 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Franklin Resources by 2.4% during the second quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock worth $463,506,000 after purchasing an additional 246,306 shares in the last quarter. Kiltearn Partners LLP lifted its position in shares of Franklin Resources by 2.9% during the first quarter. Kiltearn Partners LLP now owns 6,068,600 shares of the closed-end fund’s stock worth $255,731,000 after purchasing an additional 169,000 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Franklin Resources by 2.3% during the first quarter. FMR LLC now owns 5,340,482 shares of the closed-end fund’s stock worth $225,047,000 after purchasing an additional 121,316 shares in the last quarter. Institutional investors own 44.96% of the company’s stock.

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Several equities analysts recently weighed in on the stock. Deutsche Bank AG increased their price objective on shares of Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, August 1st. BidaskClub upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, UBS AG restated a “neutral” rating and issued a $45.00 price objective (down from $46.00) on shares of Franklin Resources in a report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $44.09.

Shares of Franklin Resources, Inc. (NYSE BEN) opened at 42.89 on Friday. The firm has a 50-day moving average of $42.65 and a 200 day moving average of $43.09. Franklin Resources, Inc. has a 12-month low of $33.02 and a 12-month high of $47.65. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 13.96 and a beta of 1.73.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. On average, equities research analysts expect that Franklin Resources, Inc. will post $2.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.20 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.87%. Franklin Resources’s dividend payout ratio (DPR) is currently 26.14%.

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.

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

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