Robeco Institutional Asset Management B.V. decreased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN – Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 238,468 shares of the closed-end fund’s stock after selling 2,193 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Franklin Resources were worth $6,424,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEN. Eagle Bay Advisors LLC acquired a new position in Franklin Resources during the 2nd quarter worth approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Franklin Resources in the 4th quarter worth approximately $27,000. Arcus Capital Partners LLC acquired a new stake in shares of Franklin Resources in the 4th quarter worth approximately $32,000. CVA Family Office LLC grew its holdings in shares of Franklin Resources by 131.5% in the 4th quarter. CVA Family Office LLC now owns 1,435 shares of the closed-end fund’s stock worth $38,000 after acquiring an additional 815 shares during the period. Finally, Clear Street Markets LLC grew its holdings in shares of Franklin Resources by 54.1% in the 4th quarter. Clear Street Markets LLC now owns 1,587 shares of the closed-end fund’s stock worth $42,000 after acquiring an additional 557 shares during the period. Institutional investors and hedge funds own 46.70% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on BEN shares. Evercore ISI lowered their price target on Franklin Resources from $27.00 to $24.00 and set an “underperform” rating on the stock in a report on Thursday, April 13th. Bank of America lowered their price target on Franklin Resources from $28.00 to $24.00 and set an “underperform” rating on the stock in a report on Wednesday, April 5th. Morgan Stanley reiterated an “underweight” rating and set a $23.00 target price on shares of Franklin Resources in a report on Tuesday, July 25th. StockNews.com initiated coverage on Franklin Resources in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company increased their target price on Franklin Resources from $25.50 to $26.00 in a report on Thursday, July 13th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $25.15.
Franklin Resources Trading Down 1.5 %
Shares of Franklin Resources stock opened at $28.35 on Thursday. Franklin Resources, Inc. has a fifty-two week low of $20.24 and a fifty-two week high of $34.37. The firm has a market cap of $14.15 billion, a PE ratio of 17.72 and a beta of 1.28. The business’s fifty day moving average is $27.04 and its two-hundred day moving average is $27.61. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.85.
Franklin Resources (NYSE:BEN – Get Free Report) last issued its earnings results on Friday, July 28th. The closed-end fund reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.50 billion. Franklin Resources had a return on equity of 10.45% and a net margin of 10.51%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. Analysts anticipate that Franklin Resources, Inc. will post 2.35 earnings per share for the current year.
Franklin Resources Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Thursday, June 29th. Franklin Resources’s dividend payout ratio (DPR) is currently 75.00%.
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.
Read More
- Five stocks we like better than Franklin Resources
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- 5 Best Office REITs to Buy Now
- Retail Stocks Investing, Explained
- Camping World Slashes its Dividend but Should You Cut the Stock?
- Find and Profitably Trade Stocks at 52-Week Lows
- SoFi Downgraded: Here’s How To Still Make Money
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.
