D. E. Shaw & Co. Inc. Acquires 152,586 Shares of Franklin Resources, Inc. (NYSE:BEN)

D. E. Shaw & Co. Inc. lifted its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 46.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,613 shares of the closed-end fund's stock after purchasing an additional 152,586 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.09% of Franklin Resources worth $9,691,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Franklin Resources by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,918 shares of the closed-end fund's stock worth $683,000 after purchasing an additional 722 shares in the last quarter. Czech National Bank raised its stake in shares of Franklin Resources by 6.6% during the 4th quarter. Czech National Bank now owns 67,001 shares of the closed-end fund's stock worth $1,359,000 after buying an additional 4,143 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Franklin Resources by 12.9% in the 4th quarter. Moody National Bank Trust Division now owns 12,611 shares of the closed-end fund's stock valued at $256,000 after buying an additional 1,438 shares during the period. Avanza Fonder AB acquired a new position in Franklin Resources during the fourth quarter worth $345,000. Finally, Guinness Asset Management LTD grew its stake in shares of Franklin Resources by 66.0% during the 4th quarter. Guinness Asset Management LTD now owns 18,457 shares of the closed-end fund's stock worth $374,000 after purchasing an additional 7,337 shares during the period. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources Trading Down 0.5%

Shares of Franklin Resources stock traded down $0.11 on Tuesday, reaching $22.11. 280,783 shares of the company were exchanged, compared to its average volume of 4,330,424. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $24.37. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The stock has a fifty day moving average price of $19.26 and a 200-day moving average price of $20.25.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.44 billion. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. On average, analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley decreased their target price on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company lifted their price target on shares of Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Evercore ISI decreased their target price on shares of Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a research note on Friday, April 11th. Cowen raised shares of Franklin Resources from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, BMO Capital Markets raised their price objective on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.25.

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.