Janus Henderson Group PLC increased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,001 shares of the closed-end fund’s stock after purchasing an additional 6,546 shares during the period. Janus Henderson Group PLC’s holdings in Franklin Resources were worth $3,045,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BEN. BlackRock Inc. increased its holdings in shares of Franklin Resources by 11.8% in the 1st quarter. BlackRock Inc. now owns 24,827,358 shares of the closed-end fund’s stock valued at $861,012,000 after purchasing an additional 2,615,864 shares in the last quarter. Kiltearn Partners LLP increased its holdings in Franklin Resources by 11.6% during the 1st quarter. Kiltearn Partners LLP now owns 7,279,300 shares of the closed-end fund’s stock valued at $248,297,000 after acquiring an additional 759,300 shares in the last quarter. Schroder Investment Management Group increased its holdings in Franklin Resources by 81.7% during the 1st quarter. Schroder Investment Management Group now owns 2,911,317 shares of the closed-end fund’s stock valued at $100,964,000 after acquiring an additional 1,309,429 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Franklin Resources by 118.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,192,524 shares of the closed-end fund’s stock valued at $76,037,000 after acquiring an additional 1,188,556 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Franklin Resources by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,339,874 shares of the closed-end fund’s stock valued at $42,943,000 after acquiring an additional 7,562 shares in the last quarter. Institutional investors own 46.82% of the company’s stock.

BEN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a report on Friday, August 24th. Morgan Stanley decreased their price target on shares of Franklin Resources from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, July 12th. JPMorgan Chase & Co. cut shares of Franklin Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $32.00 to $29.00 in a research note on Thursday, September 6th. Deutsche Bank decreased their price target on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. Finally, Barclays decreased their price target on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, July 30th. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.75.

In other news, insider Jed A. Plafker sold 4,820 shares of Franklin Resources stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $32.85, for a total transaction of $158,337.00. Following the sale, the insider now owns 56,369 shares in the company, valued at $1,851,721.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig Steven Tyle sold 11,165 shares of Franklin Resources stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total transaction of $350,022.75. The disclosure for this sale can be found here. Insiders own 22.20% of the company’s stock.

Shares of BEN remained flat at $$28.54 during mid-day trading on Friday. 3,658,521 shares of the company traded hands, compared to its average volume of 3,431,137. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 3.37. Franklin Resources, Inc. has a twelve month low of $28.12 and a twelve month high of $45.96. The firm has a market capitalization of $16.03 billion, a PE ratio of 9.48, a PEG ratio of 1.58 and a beta of 1.49.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 27th. The closed-end fund reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company earned $0.73 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. On average, research analysts expect that Franklin Resources, Inc. will post 3.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. Franklin Resources’s dividend payout ratio (DPR) is 30.56%.

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.

Further Reading: Average Daily Trade Volume Explained

Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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