1,134,422 Shares in Franklin Resources, Inc. $BEN Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 1,134,422 Franklin Resources shares worth approximately $37.7 million during the second quarter, giving it a 0.22% stake. Institutional investors and hedge funds collectively own 47.56% of the company.
• Franklin Resources reported quarterly earnings of $0.72 per share, exceeding estimates of $0.66, while revenue rose 14.3% year over year to $2.36 billion.
• Shares recently traded at $34.32, up 1.0%, while analysts maintain a consensus “Hold” rating with an average price target of $32.44.

Deutsche Bank AG purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,134,422 shares of the closed-end fund's stock, valued at approximately $37,742,000. Deutsche Bank AG owned 0.22% of Franklin Resources as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Danske Bank A S acquired a new stake in shares of Franklin Resources during the fourth quarter worth $26,000. Rakuten Securities Inc. raised its position in Franklin Resources by 277.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund's stock worth $27,000 after buying an additional 845 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in shares of Franklin Resources in the 4th quarter worth $28,000. Leonteq Securities AG purchased a new position in Franklin Resources during the fourth quarter worth about $30,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Franklin Resources in the fourth quarter valued at about $32,000. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Trading Up 1.0%

NYSE:BEN opened at $34.32 on Friday. The firm has a market capitalization of $17.44 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.72 and a beta of 1.55. The business has a 50 day simple moving average of $33.51 and a 200 day simple moving average of $29.72. Franklin Resources, Inc. has a 12-month low of $21.10 and a 12-month high of $36.28. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.06. The company 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 revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Equities research analysts predict that Franklin Resources, Inc. will post 2.88 EPS for the current year.

Wall Street Analysts Forecast Growth

BEN has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $34.00 price objective on shares of Franklin Resources in a research report on Monday, August 3rd. Evercore reaffirmed an "underperform" rating and set a $35.00 price objective on shares of Franklin Resources in a research note on Friday, July 10th. The Goldman Sachs Group boosted their price target on Franklin Resources from $30.50 to $34.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on Franklin Resources from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $32.44.

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.

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