Natixis Has $5.28 Million Holdings in Franklin Resources, Inc. (NYSE:BEN)
Natixis lessened its position in Franklin Resources, Inc. (NYSE:BEN) by 17.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 151,780 shares of the closed-end fund’s stock after selling 32,660 shares during the period. Natixis’ holdings in Franklin Resources were worth $5,282,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC grew its stake in Franklin Resources by 232.6% in the second quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock valued at $25,000 after acquiring an additional 507 shares during the period. Trustcore Financial Services LLC purchased a new position in shares of Franklin Resources during the first quarter valued at approximately $25,000. Rational Advisors LLC boosted its position in shares of Franklin Resources by 5,760.0% during the second quarter. Rational Advisors LLC now owns 879 shares of the closed-end fund’s stock valued at $31,000 after buying an additional 864 shares during the last quarter. Smith Asset Management Group LP purchased a new position in shares of Franklin Resources during the second quarter valued at approximately $32,000. Finally, Knuff & Co LLC purchased a new position in shares of Franklin Resources during the first quarter valued at approximately $33,000. 50.47% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on BEN shares. ValuEngine cut Franklin Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. TheStreet cut Franklin Resources from a “b-” rating to a “c+” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 target price on the stock in a research report on Thursday. Citigroup lifted their target price on Franklin Resources from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Finally, Barclays set a $27.00 target price on Franklin Resources and gave the company a “sell” rating in a research report on Wednesday, July 31st. Seven 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 stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.02.
Franklin Resources stock traded up $0.19 during mid-day trading on Friday, reaching $29.98. 90,148 shares of the company’s stock were exchanged, compared to its average volume of 3,013,548. The business’s fifty day simple moving average is $28.93 and its 200 day simple moving average is $32.62. The firm has a market capitalization of $14.33 billion, a PE ratio of 9.38, a P/E/G ratio of 1.58 and a beta of 1.22. Franklin Resources, Inc. has a one year low of $25.57 and a one year high of $35.82. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.07.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Tuesday, July 30th. The closed-end fund reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.15). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Franklin Resources had a return on equity of 13.43% and a net margin of 23.80%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. On average, sell-side analysts forecast that Franklin Resources, Inc. will post 2.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, September 27th. This represents a $1.04 dividend on an annualized basis and a yield of 3.47%. Franklin Resources’s dividend payout ratio (DPR) is currently 32.60%.
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.
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