Insight Folios Inc increased its position in Franklin Resources, Inc. (NYSE:BEN – Get Rating) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,021 shares of the closed-end fund’s stock after purchasing an additional 1,728 shares during the quarter. Franklin Resources accounts for 2.9% of Insight Folios Inc’s portfolio, making the stock its 4th largest position. Insight Folios Inc’s holdings in Franklin Resources were worth $6,129,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in BEN. Allianz Asset Management GmbH boosted its stake in shares of Franklin Resources by 26,549.2% in the third quarter. Allianz Asset Management GmbH now owns 2,526,881 shares of the closed-end fund’s stock valued at $75,099,000 after purchasing an additional 2,517,399 shares during the period. Marshall Wace LLP increased its position in shares of Franklin Resources by 748.3% during the third quarter. Marshall Wace LLP now owns 1,678,213 shares of the closed-end fund’s stock worth $49,877,000 after acquiring an additional 1,480,385 shares during the last quarter. Morgan Stanley increased its position in shares of Franklin Resources by 64.9% during the second quarter. Morgan Stanley now owns 2,644,418 shares of the closed-end fund’s stock worth $84,595,000 after acquiring an additional 1,040,575 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Franklin Resources by 339.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,176,779 shares of the closed-end fund’s stock worth $34,974,000 after acquiring an additional 908,777 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Franklin Resources by 50.9% during the third quarter. Goldman Sachs Group Inc. now owns 1,928,450 shares of the closed-end fund’s stock worth $57,314,000 after acquiring an additional 650,225 shares during the last quarter. Institutional investors and hedge funds own 44.13% of the company’s stock.
Shares of BEN traded down $0.02 during mid-day trading on Friday, reaching $27.92. 6,509,641 shares of the company’s stock traded hands, compared to its average volume of 3,060,872. The business’s 50-day moving average price is $30.60 and its 200-day moving average price is $31.93. The stock has a market capitalization of $14.02 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 1.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 1.89. Franklin Resources, Inc. has a 12 month low of $26.45 and a 12 month high of $38.27.
Franklin Resources (NYSE:BEN – Get Rating) last released its quarterly earnings results on Tuesday, February 1st. The closed-end fund reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.20. Franklin Resources had a return on equity of 17.79% and a net margin of 22.41%. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Franklin Resources, Inc. will post 3.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.15%. Franklin Resources’s dividend payout ratio (DPR) is 30.69%.
In related news, insider Franklin Resources Inc purchased 668,297 shares of the company’s stock in a transaction on Friday, March 11th. The shares were bought at an average cost of $12.27 per share, for a total transaction of $8,200,004.19. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 23.30% of the stock is currently owned by insiders.
Several equities analysts have recently commented on BEN shares. Deutsche Bank Aktiengesellschaft reduced their target price on Franklin Resources from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, February 18th. BMO Capital Markets downgraded shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $38.00 target price for the company. in a research report on Thursday, December 16th. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research report on Monday, January 24th. Finally, Bank of America started coverage on shares of Franklin Resources in a report on Thursday, December 16th. They issued a “neutral” rating and a $38.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Franklin Resources has an average rating of “Hold” and a consensus price target of $36.00.
About Franklin Resources (Get Rating)
Franklin Resources, Inc is a holding company, which engages in the provision of investment management and related services. The firm offers services and products under various distinct brand names, including, but not limited to, Franklin, Templeton, Legg Mason, Benefit Street Partners, Brandywine Global Investment Management, Clarion Partners, ClearBridge Investments, Fiduciary Trust International, Franklin Bissett, Franklin Mutual Series, K2, LibertyShares, Martin Currie, Royce Investment Partners and Western Asset Management Company.
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