Ensign Peak Advisors Inc Sells 183,861 Shares of Franklin Resources, Inc. (NYSE:BEN)

Ensign Peak Advisors Inc decreased its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 61.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 113,321 shares of the closed-end fund's stock after selling 183,861 shares during the period. Ensign Peak Advisors Inc's holdings in Franklin Resources were worth $2,299,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BEN. Norges Bank bought a new stake in Franklin Resources in the 4th quarter valued at approximately $53,676,000. First Trust Advisors LP lifted its stake in Franklin Resources by 33.1% in the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock valued at $130,645,000 after acquiring an additional 1,599,849 shares in the last quarter. Amundi lifted its stake in Franklin Resources by 62.9% in the 4th quarter. Amundi now owns 3,752,326 shares of the closed-end fund's stock valued at $75,928,000 after acquiring an additional 1,449,210 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Franklin Resources by 336.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 786,722 shares of the closed-end fund's stock valued at $15,963,000 after acquiring an additional 1,120,022 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Franklin Resources by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund's stock valued at $765,254,000 after acquiring an additional 1,095,373 shares in the last quarter. Institutional investors own 47.56% of the company's stock.

Franklin Resources Stock Up 0.8%

BEN stock opened at $22.18 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The business's 50 day simple moving average is $19.15 and its 200 day simple moving average is $20.24. Franklin Resources, Inc. has a 1-year low of $16.25 and a 1-year high of $24.55. The firm has a market capitalization of $11.66 billion, a PE ratio of 34.12, a PEG ratio of 2.31 and a beta of 1.39.

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

Analysts Set New Price Targets

Several research firms have weighed in on BEN. Morgan Stanley lowered their price target 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. TD Cowen raised Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Wednesday. Bank of America lowered their price target on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Cowen raised Franklin Resources from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, UBS Group boosted their price target on Franklin Resources from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.

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