213,385 Shares in Franklin Resources, Inc. $BEN Acquired by Calamos Advisors LLC

Key Points

• Calamos Advisors acquired a new 213,385-share position in Franklin Resources during the third quarter, valued at approximately $6.85 million.
• Franklin Resources reported quarterly adjusted earnings of $0.94 per share, beating the $0.77 consensus estimate; revenue rose 3.9% year over year to $1.88 billion.
• Analysts have a consensus Hold rating on BEN, with an average price target of $35.89; the company’s quarterly dividend was $0.33 per share.

Calamos Advisors LLC bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 213,385 shares of the closed-end fund's stock, valued at approximately $6,854,000.

Several other large investors have also added to or reduced their stakes in BEN. BlackRock Inc. purchased a new stake in shares of Franklin Resources in the second quarter worth $961,845,000. Azora Capital LP purchased a new position in shares of Franklin Resources during the 2nd quarter valued at $229,850,000. Bank of New York Mellon Corp purchased a new position in shares of Franklin Resources during the 2nd quarter valued at $152,692,000. Kopernik Global Investors LLC boosted its holdings in Franklin Resources by 4.6% in the 1st quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund's stock worth $83,204,000 after buying an additional 153,422 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Franklin Resources by 37.3% in the 1st quarter. Bank of America Corp DE now owns 1,964,424 shares of the closed-end fund's stock worth $46,400,000 after buying an additional 533,192 shares during the period. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources News Roundup

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BEN shares. JPMorgan Chase & Co. increased their price target on Franklin Resources from $34.00 to $35.00 and gave the stock a "neutral" rating in a research note on Monday, October 12th. Morgan Stanley boosted their price objective on Franklin Resources from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, September 25th. UBS Group initiated coverage on Franklin Resources in a research report on Wednesday, October 7th. They issued a "buy" rating and a $40.00 price objective on the stock. Zacks Research lowered Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Barclays reiterated a "mixed" rating on shares of Franklin Resources in a research report on Wednesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $35.89.

Franklin Resources Trading Up 0.3%

Franklin Resources stock opened at $33.84 on Monday. The stock has a market cap of $17.19 billion, a P/E ratio of 17.09, a PEG ratio of 0.60 and a beta of 1.56. 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, Inc. has a 1 year low of $21.10 and a 1 year high of $36.28. The firm's 50 day moving average price is $32.58 and its 200-day moving average price is $30.38.

Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, topping the consensus estimate of $0.77 by $0.17. Franklin Resources had a net margin of 11.42% and a return on equity of 12.59%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company's quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Franklin Resources, Inc. will post 3.20 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, September 30th. Franklin Resources's payout ratio is currently 66.67%.

Franklin Resources Profile

Franklin Resources, Inc is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts.

The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.

Founded in 1947, Franklin Resources has grown through acquisitions, including its 2020 acquisition of Legg Mason.

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