202,856 Shares in Franklin Resources, Inc. $BEN Purchased by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors acquired 202,856 shares of Franklin Resources in the third quarter, valued at approximately $6.5 million. Institutional investors and hedge funds collectively own 47.56% of the company.
• Franklin Resources reported quarterly EPS of $0.72, exceeding estimates of $0.66, while revenue reached $2.36 billion and rose 14.3% year over year.
• The company paid a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 payout and a 4.2% yield. Analysts’ consensus rating is “Hold,” with an average price target of $35.89.

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 202,856 shares of the closed-end fund's stock, valued at approximately $6,516,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Franklin Resources in the second quarter valued at approximately $961,845,000. Azora Capital LP purchased a new position in Franklin Resources during the 2nd quarter worth $229,850,000. Bank of New York Mellon Corp acquired a new position in shares of Franklin Resources during the second quarter worth about $152,692,000. Gallagher Fiduciary Advisors LLC purchased a new stake in Franklin Resources in the 2nd quarter valued at approximately $45,904,000. Finally, Bank of America Corp DE acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at approximately $41,068,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Trading Up 2.7%

Shares of BEN stock opened at $31.36 on Friday. The company has a market capitalization of $15.94 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 0.54 and a beta of 1.54. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $33.33 and a 200 day moving average price of $31.71. Franklin Resources, Inc. has a twelve month low of $21.10 and a twelve month high of $36.28.

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 (EPS) for the quarter, topping the consensus estimate 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 net margin of 8.72% and a return on equity of 11.55%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Research analysts forecast that Franklin Resources, Inc. will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors 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 yield of 4.2%. Franklin Resources's dividend payout ratio (DPR) is 89.80%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Franklin Resources in a research note on Monday, August 31st. Wall Street Zen upgraded Franklin Resources from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. UBS Group assumed coverage on Franklin Resources in a report on Wednesday, October 7th. They issued a "buy" rating and a $40.00 target price on the stock. Morgan Stanley increased their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, September 25th. Finally, Zacks Research cut shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $35.89.

Franklin Resources Profile

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.

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