Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by Candriam S.C.A.

Candriam S.C.A. raised its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,186 shares of the closed-end fund’s stock after acquiring an additional 1,310 shares during the quarter. Candriam S.C.A.’s holdings in Franklin Resources were worth $1,077,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Franklin Resources by 11.5% during the second quarter. Victory Capital Management Inc. now owns 1,215,412 shares of the closed-end fund’s stock valued at $27,164,000 after acquiring an additional 125,262 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Franklin Resources by 22.8% during the second quarter. National Bank of Canada FI now owns 86,746 shares of the closed-end fund’s stock valued at $1,920,000 after acquiring an additional 16,125 shares during the last quarter. Journey Advisory Group LLC acquired a new position in shares of Franklin Resources during the second quarter valued at approximately $285,000. TD Asset Management Inc increased its holdings in shares of Franklin Resources by 20.3% in the second quarter. TD Asset Management Inc now owns 96,312 shares of the closed-end fund’s stock valued at $2,153,000 after purchasing an additional 16,236 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Franklin Resources in the second quarter valued at approximately $944,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BEN shares. TD Cowen increased their price target on Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays started coverage on Franklin Resources in a report on Tuesday, August 27th. They issued an “underweight” rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a report on Monday, July 29th. UBS Group cut their price target on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $23.00 price target on shares of Franklin Resources in a report on Thursday, August 22nd. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.91.

Insider Transactions at Franklin Resources

In related news, major shareholder Charles B. Johnson bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $19.84 per share, for a total transaction of $1,984,000.00. Following the completion of the acquisition, the insider now owns 89,208,192 shares in the company, valued at approximately $1,769,890,529.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Charles B. Johnson bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $19.84 per share, for a total transaction of $1,984,000.00. Following the completion of the acquisition, the insider now owns 89,208,192 shares in the company, valued at approximately $1,769,890,529.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Charles B. Johnson bought 200,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was bought at an average price of $22.80 per share, with a total value of $4,560,000.00. Following the completion of the acquisition, the insider now owns 88,703,192 shares of the company’s stock, valued at approximately $2,022,432,777.60. The disclosure for this purchase can be found here. Insiders bought a total of 331,600 shares of company stock worth $7,189,637 over the last ninety days. Company insiders own 24.13% of the company’s stock.

Franklin Resources Trading Down 0.3 %

BEN opened at $19.49 on Wednesday. Franklin Resources, Inc. has a 52 week low of $19.05 and a 52 week high of $30.32. The business has a fifty day simple moving average of $21.83 and a 200-day simple moving average of $23.85. The firm has a market cap of $10.25 billion, a P/E ratio of 11.14, a P/E/G ratio of 2.41 and a beta of 1.39. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. On average, equities analysts expect that Franklin Resources, Inc. will post 2.41 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.24 annualized dividend and a dividend yield of 6.36%. Franklin Resources’s dividend payout ratio is currently 70.86%.

Franklin Resources Company 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.