Kinloch Capital LLC Takes $5.74 Million Position in Franklin Resources, Inc. $BEN

Kinloch Capital LLC acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 172,427 shares of the closed-end fund’s stock, valued at approximately $5,737,000. Franklin Resources makes up 2.1% of Kinloch Capital LLC’s portfolio, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mariner LLC grew its stake in Franklin Resources by 0.7% in the fourth quarter. Mariner LLC now owns 56,151 shares of the closed-end fund’s stock valued at $1,341,000 after acquiring an additional 377 shares during the period. Lido Advisors LLC raised its position in shares of Franklin Resources by 4.0% during the first quarter. Lido Advisors LLC now owns 10,194 shares of the closed-end fund’s stock worth $244,000 after purchasing an additional 395 shares during the period. Zions Bancorporation National Association UT raised its position in shares of Franklin Resources by 35.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 1,512 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 396 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Franklin Resources by 12.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,671 shares of the closed-end fund’s stock valued at $87,000 after purchasing an additional 400 shares in the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Franklin Resources by 0.6% during the 1st quarter. Sigma Planning Corp now owns 67,747 shares of the closed-end fund’s stock valued at $1,600,000 after purchasing an additional 407 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BEN has been the subject of a number of research reports. Weiss Ratings raised Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. JPMorgan Chase & Co. upped their price target on shares of Franklin Resources from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. TD Cowen increased their price objective on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Barclays raised their price objective on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources presently has a consensus rating of “Hold” and a consensus price target of $32.44.

Franklin Resources Stock Up 0.9%

NYSE:BEN opened at $34.62 on Tuesday. The stock has a 50-day simple moving average of $33.55 and a 200 day simple moving average of $29.79. Franklin Resources, Inc. has a 52-week low of $21.10 and a 52-week high of $36.28. The company has a market cap of $17.59 billion, a PE ratio of 23.55, a PEG ratio of 0.69 and a beta of 1.55. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 EPS. On average, sell-side analysts expect that Franklin Resources, Inc. will post 2.88 EPS for the current fiscal year.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.