Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by Advisor Group Inc.

Advisor Group Inc. boosted its holdings in Franklin Resources, Inc. (NYSE:BEN) by 35.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,721 shares of the closed-end fund’s stock after purchasing an additional 14,356 shares during the period. Advisor Group Inc.’s holdings in Franklin Resources were worth $1,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc lifted its holdings in shares of Franklin Resources by 17.1% in the 3rd quarter. Vanguard Group Inc now owns 32,666,942 shares of the closed-end fund’s stock worth $993,402,000 after purchasing an additional 4,764,162 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Franklin Resources by 2.9% during the 4th quarter. BlackRock Inc. now owns 23,139,023 shares of the closed-end fund’s stock worth $686,304,000 after buying an additional 646,242 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of Franklin Resources by 4.8% during the 4th quarter. Pzena Investment Management LLC now owns 9,396,639 shares of the closed-end fund’s stock worth $278,704,000 after buying an additional 434,347 shares during the last quarter. Kiltearn Partners LLP boosted its stake in shares of Franklin Resources by 4.6% during the 4th quarter. Kiltearn Partners LLP now owns 8,460,294 shares of the closed-end fund’s stock worth $250,932,000 after buying an additional 370,500 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Franklin Resources by 526.8% during the 4th quarter. Bank of America Corp DE now owns 6,705,633 shares of the closed-end fund’s stock worth $198,889,000 after buying an additional 5,635,864 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

Shares of BEN traded up $0.20 during trading hours on Monday, reaching $35.00. 2,279,908 shares of the company traded hands, compared to its average volume of 2,780,907. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Franklin Resources, Inc. has a 12-month low of $27.34 and a 12-month high of $35.82. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $33.46.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, April 26th. The closed-end fund reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Franklin Resources had a return on equity of 14.24% and a net margin of 26.10%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, equities analysts expect that Franklin Resources, Inc. will post 2.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.97%. Franklin Resources’s dividend payout ratio (DPR) is 32.60%.

BEN has been the topic of a number of research analyst reports. TheStreet upgraded shares of Franklin Resources from a “c+” rating to a “b” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods lowered shares of Franklin Resources from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $34.00 to $33.00 in a research note on Monday, April 29th. Citigroup raised their price objective on shares of Franklin Resources from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. Bank of America set a $32.00 price objective on shares of Franklin Resources and gave the company a “sell” rating in a research note on Tuesday, April 9th. Finally, Zacks Investment Research upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Franklin Resources currently has a consensus rating of “Hold” and an average target price of $30.55.

In other news, EVP Craig Steven Tyle sold 10,924 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $32.04, for a total transaction of $350,004.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 23.90% of the company’s stock.

Franklin Resources Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.

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

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