Franklin Resources, Inc. (BEN) Holdings Raised by QS Investors LLC
QS Investors LLC raised its position in Franklin Resources, Inc. (NYSE:BEN) by 1,776.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,751 shares of the closed-end fund’s stock after buying an additional 84,022 shares during the period. QS Investors LLC’s holdings in Franklin Resources were worth $3,975,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Franklin Resources by 1,550.0% during the 1st quarter. BlackRock Inc. now owns 21,119,419 shares of the closed-end fund’s stock worth $889,973,000 after buying an additional 19,839,472 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 valued at $1,134,833,000 after acquiring an additional 1,337,903 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Franklin Resources by 70.2% in the second quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock valued at $75,684,000 after acquiring an additional 696,730 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Franklin Resources by 92.8% in the second quarter. Ameriprise Financial Inc. now owns 1,412,702 shares of the closed-end fund’s stock valued at $63,289,000 after acquiring an additional 680,059 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Franklin Resources by 996.3% in the first quarter. JPMorgan Chase & Co. now owns 716,720 shares of the closed-end fund’s stock valued at $30,203,000 after acquiring an additional 651,346 shares in the last quarter. Hedge funds and other institutional investors own 44.96% of the company’s stock.
Franklin Resources, Inc. (BEN) opened at 44.77 on Wednesday. The company has a market cap of $24.97 billion, a P/E ratio of 14.57 and a beta of 1.72. Franklin Resources, Inc. has a 52 week low of $33.02 and a 52 week high of $47.65. The firm has a 50-day moving average price of $42.73 and a 200 day moving average price of $43.18.
Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, July 28th. The closed-end fund reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm earned $0.77 EPS. Franklin Resources’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts expect that Franklin Resources, Inc. will post $2.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, September 28th. Franklin Resources’s dividend payout ratio (DPR) is currently 26.14%.
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BEN has been the topic of a number of recent analyst reports. BidaskClub raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 target price on shares of Franklin Resources in a research note on Thursday, July 6th. Deutsche Bank AG boosted their price target on shares of Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Franklin Resources presently has a consensus rating of “Hold” and an average price target of $44.09.
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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