Parametric Portfolio Associates LLC Raises Holdings in Franklin Resources, Inc. (NYSE:BEN)

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Parametric Portfolio Associates LLC raised its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,314,659 shares of the closed-end fund’s stock after purchasing an additional 61,450 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.26% of Franklin Resources worth $45,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BEN. O Shaughnessy Asset Management LLC boosted its stake in Franklin Resources by 93.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,420,367 shares of the closed-end fund’s stock valued at $46,994,000 after purchasing an additional 686,589 shares during the last quarter. First Trust Advisors LP boosted its stake in Franklin Resources by 54.0% during the 2nd quarter. First Trust Advisors LP now owns 1,807,240 shares of the closed-end fund’s stock valued at $62,892,000 after purchasing an additional 634,062 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Franklin Resources by 257.1% during the 2nd quarter. Janus Henderson Group PLC now owns 690,543 shares of the closed-end fund’s stock valued at $24,029,000 after purchasing an additional 497,181 shares during the last quarter. Schroder Investment Management Group boosted its stake in Franklin Resources by 17.6% during the 2nd quarter. Schroder Investment Management Group now owns 3,003,248 shares of the closed-end fund’s stock valued at $104,513,000 after purchasing an additional 450,309 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Franklin Resources by 60.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,110,327 shares of the closed-end fund’s stock valued at $38,639,000 after purchasing an additional 418,762 shares during the last quarter. Institutional investors and hedge funds own 50.47% of the company’s stock.

In related news, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $26.01, for a total value of $130,050.00. Following the transaction, the executive vice president now directly owns 100,009 shares of the company’s stock, valued at approximately $2,601,234.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.20% of the stock is currently owned by company insiders.

BEN has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 price target on the stock in a research note on Thursday. TheStreet downgraded Franklin Resources from a “b-” rating to a “c+” rating in a research note on Friday, August 9th. Citigroup raised their price target on Franklin Resources from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. ValuEngine downgraded Franklin Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Finally, Barclays set a $27.00 price target on Franklin Resources and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Franklin Resources has a consensus rating of “Hold” and a consensus price target of $31.02.

Shares of BEN stock traded up $0.12 on Friday, reaching $29.91. The stock had a trading volume of 3,242,873 shares, compared to its average volume of 2,986,999. The stock has a market cap of $15.00 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. Franklin Resources, Inc. has a 1 year low of $25.57 and a 1 year high of $35.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.35 and a current ratio of 3.35. The company has a 50 day simple moving average of $28.83 and a 200 day simple moving average of $32.61.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Tuesday, July 30th. The closed-end fund reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.15). Franklin Resources had a return on equity of 13.43% and a net margin of 23.80%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 2.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.26 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.04 dividend on an annualized basis and a yield of 3.48%. Franklin Resources’s dividend payout ratio is currently 32.60%.

About Franklin Resources

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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