133,295 Shares of Franklin Resources, Inc. $BEN Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in Franklin Resources, buying 133,295 shares worth approximately $4.28 million in the third quarter. Institutional investors own 47.56% of the company.
• Franklin Resources beat quarterly estimates, reporting EPS of $0.94 versus expectations of about $0.77 and revenue of $1.88 billion, up 3.9% year over year.
• The company’s quarterly dividend is $0.33 per share, equivalent to $1.32 annually and a 3.9% yield. Analysts’ consensus rating is Hold, with an average price target of $35.89.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 133,295 shares of the closed-end fund's stock, valued at approximately $4,281,000.

A number of other large investors have also recently bought and sold shares of the company. First Community Trust NA purchased a new stake in shares of Franklin Resources in the 3rd quarter valued at $25,000. Armstrong Advisory Group Inc. acquired a new position in Franklin Resources during the third quarter valued at $35,000. Compass Financial Management LLC purchased a new stake in Franklin Resources in the second quarter valued at $36,000. Elevation Wealth Partners LLC boosted its holdings in Franklin Resources by 179.2% in the third quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund's stock valued at $39,000 after purchasing an additional 758 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Franklin Resources by 209.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund's stock worth $39,000 after purchasing an additional 813 shares during the period. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources Price Performance

Shares of NYSE:BEN traded up $1.63 during trading on Friday, reaching $33.84. 7,203,101 shares of the company's stock traded hands, compared to its average volume of 3,711,410. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22. Franklin Resources, Inc. has a fifty-two week low of $21.10 and a fifty-two week high of $36.28. The company has a 50-day simple moving average of $32.58 and a 200-day simple moving average of $30.38. The firm has a market cap of $17.19 billion, a PE ratio of 23.02, a P/E/G ratio of 0.57 and a beta of 1.56.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings results on Friday, November 6th. The closed-end fund reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.17. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. Franklin Resources's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts predict that Franklin Resources, Inc. will post 2.91 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Franklin Resources's dividend payout ratio (DPR) is 89.80%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BEN. Evercore reissued an "underperform" rating and issued a $35.00 price objective on shares of Franklin Resources in a report on Friday, July 10th. Morgan Stanley raised their target price on Franklin Resources from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, September 25th. TD Cowen reduced their price target on Franklin Resources from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, October 12th. UBS Group began coverage on Franklin Resources in a report on Wednesday, October 7th. They issued a "buy" rating and a $40.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Franklin Resources from $34.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $35.89.

Key Stories Impacting Franklin Resources

Here are the key news stories impacting Franklin Resources this week:

• Positive Sentiment: Adjusted earnings were $0.94 per share, above analyst expectations of roughly $0.77–$0.78 and up from $0.67 a year earlier. Revenue of $1.88 billion also topped estimates of $1.86 billion and increased 3.9% year over year. Article: Franklin Templeton Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reports attributed the results to higher revenue, year-over-year growth in assets under management, robust long-term net inflows and lower operating expenses—indicators that support earnings momentum. Article: Franklin Q4 Earnings Beat Estimates on Higher Revenues, AUM Rises Year Over Year

Franklin Resources Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.

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