Unigestion Holding SA Makes New $957,000 Investment in Franklin Resources, Inc. (NYSE:BEN)
Unigestion Holding SA acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,172 shares of the closed-end fund’s stock, valued at approximately $957,000.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Franklin Resources by 15.2% during the 2nd quarter. Vanguard Group Inc. now owns 37,527,041 shares of the closed-end fund’s stock valued at $1,305,941,000 after acquiring an additional 4,944,487 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Franklin Resources by 46.9% in the second quarter. APG Asset Management N.V. now owns 6,018,027 shares of the closed-end fund’s stock worth $183,902,000 after acquiring an additional 1,920,900 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Franklin Resources by 17,619.0% in the second quarter. Nuveen Asset Management LLC now owns 1,360,466 shares of the closed-end fund’s stock worth $47,344,000 after acquiring an additional 1,352,788 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Franklin Resources by 148.5% in the second quarter. Royal Bank of Canada now owns 1,129,235 shares of the closed-end fund’s stock worth $39,299,000 after acquiring an additional 674,759 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Franklin Resources by 54.0% in the second quarter. First Trust Advisors LP now owns 1,807,240 shares of the closed-end fund’s stock worth $62,892,000 after acquiring an additional 634,062 shares during the last quarter. Institutional investors own 49.87% of the company’s stock.
BEN has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 price target on the stock in a research report on Thursday, September 12th. TheStreet cut shares of Franklin Resources from a “b-” rating to a “c+” rating in a research report on Friday, August 9th. Morgan Stanley reduced their price target on shares of Franklin Resources from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 8th. BMO Capital Markets initiated coverage on shares of Franklin Resources in a research report on Monday, October 7th. They set an “underperform” rating and a $16.00 price target on the stock. Finally, ValuEngine upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Franklin Resources presently has an average rating of “Hold” and an average price target of $29.35.
Shares of BEN traded down $0.46 during mid-day trading on Friday, reaching $28.28. 2,852,853 shares of the stock traded hands, compared to its average volume of 2,976,899. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.60 and a beta of 1.23. The stock has a fifty day simple moving average of $27.90 and a 200 day simple moving average of $31.12. Franklin Resources, Inc. has a 12-month low of $25.57 and a 12-month 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 posted its quarterly earnings data on Friday, October 25th. The closed-end fund reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Franklin Resources had a net margin of 20.71% and a return on equity of 12.35%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. On average, equities research analysts expect that Franklin Resources, Inc. will post 2.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, September 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.68%. Franklin Resources’s dividend payout ratio is currently 41.27%.
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.
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