Foster & Motley Inc. bought a new stake in Franklin Resources, Inc. (NYSE:BEN – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,869 shares of the closed-end fund’s stock, valued at approximately $1,193,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Danske Bank A S bought a new stake in shares of Franklin Resources during the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its position in Franklin Resources by 277.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 845 shares during the period. Motiv8 Investments LLC bought a new position in shares of Franklin Resources in the fourth quarter valued at $28,000. Leonteq Securities AG acquired a new stake in shares of Franklin Resources during the fourth quarter valued at approximately $30,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Franklin Resources in the 4th quarter valued at approximately $32,000. Institutional investors own 47.56% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on BEN. Zacks Research raised Franklin Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. TD Cowen boosted their target price on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Evercore reiterated an “underperform” rating and set a $35.00 target price on shares of Franklin Resources in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.44.
Franklin Resources Price Performance
Shares of NYSE BEN opened at $34.01 on Thursday. Franklin Resources, Inc. has a twelve month low of $21.10 and a twelve month high of $36.28. The stock’s 50 day moving average price is $33.42 and its 200-day moving average price is $29.63. The company has a market capitalization of $17.28 billion, a PE ratio of 23.13, a PEG ratio of 0.73 and a beta of 1.55. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22.
Franklin Resources (NYSE:BEN – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that Franklin Resources, Inc. will post 2.88 EPS for the current year.
Franklin Resources Profile
Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.
Founded in 1947 by Rupert H.
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