127,813 Shares in Franklin Resources, Inc. $BEN Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 127,813 shares of Franklin Resources in the second quarter, valued at approximately $4.25 million. Institutional investors and hedge funds collectively own 47.56% of the company.
• Franklin Resources exceeded quarterly expectations, reporting $0.72 in EPS versus the $0.66 consensus and $2.36 billion in revenue, up 14.3% year over year.
• The stock opened at $33.09, while analysts maintain a consensus “Hold” rating and an average price target of $32.44. Franklin Resources also declared a quarterly dividend of $0.33 per share, representing a 4.0% annualized yield.

Jupiter Topco LLC purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 127,813 shares of the closed-end fund's stock, valued at approximately $4,253,000.

Several other institutional investors and hedge funds have also made changes to their positions in BEN. Danske Bank A S purchased a new stake in shares of Franklin Resources in the fourth quarter valued at about $26,000. Motiv8 Investments LLC acquired a new position in Franklin Resources in the 4th quarter valued at about $28,000. Leonteq Securities AG purchased a new stake in Franklin Resources during the 4th quarter valued at approximately $30,000. Atlas Capital Advisors Inc. acquired a new stake in Franklin Resources during the 4th quarter worth approximately $32,000. Finally, Larson Financial Group LLC lifted its position in Franklin Resources by 48.1% during the 4th quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund's stock worth $33,000 after acquiring an additional 452 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price target on Franklin Resources from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Weiss Ratings raised shares of Franklin Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Evercore restated an "underperform" rating and set a $35.00 price objective on shares of Franklin Resources in a research report on Friday, July 10th. Wall Street Zen raised Franklin Resources from a "hold" rating to a "buy" rating in a report on Sunday, June 14th. Finally, Zacks Research downgraded Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.44.

Franklin Resources Stock Down 3.1%

Shares of NYSE BEN opened at $33.09 on Wednesday. The stock has a market capitalization of $16.81 billion, a PE ratio of 22.51, a P/E/G ratio of 0.68 and a beta of 1.54. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $33.69 and a 200-day moving average of $30.08. Franklin Resources, Inc. has a 52-week low of $21.10 and a 52-week high of $36.28.

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

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Franklin Resources's dividend payout ratio (DPR) is currently 89.80%.

Franklin Resources Company Profile

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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