ASR Vermogensbeheer N.V. Buys New Shares in Franklin Resources, Inc. (NYSE:BEN)

Key Points

• ASR Vermogensbeheer N.V. acquired a new position in Franklin Resources, purchasing 29,292 shares valued at approximately $564,000.
• Several institutional investors, including Manchester Capital Management and PNC Financial Services Group, significantly increased their stakes in Franklin Resources during the first quarter.
• Franklin Resources reported $0.49 EPS for the last quarter, exceeding the consensus estimate, but experienced a 2.2% year-over-year decline in revenue.

ASR Vermogensbeheer N.V. bought a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,292 shares of the closed-end fund's stock, valued at approximately $564,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC increased its position in Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after buying an additional 737 shares in the last quarter. GeoWealth Management LLC increased its position in Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock valued at $26,000 after buying an additional 981 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Franklin Resources by 49.9% during the 1st quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund's stock worth $32,000 after purchasing an additional 555 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Franklin Resources during the 1st quarter worth approximately $46,000. Finally, Signaturefd LLC increased its holdings in Franklin Resources by 39.4% during the 1st quarter. Signaturefd LLC now owns 2,592 shares of the closed-end fund's stock worth $50,000 after purchasing an additional 732 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

Shares of NYSE:BEN traded up $0.41 during trading on Tuesday, hitting $25.70. 2,710,545 shares of the company were exchanged, compared to its average volume of 4,267,781. The company has a market cap of $13.34 billion, a PE ratio of 50.39, a P/E/G ratio of 1.70 and a beta of 1.46. The stock has a 50 day moving average of $23.83 and a 200 day moving average of $21.28. Franklin Resources, Inc. has a 52-week low of $16.25 and a 52-week high of $25.79. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.55 and a quick ratio of 1.55.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The closed-end fund reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Franklin Resources had a return on equity of 8.76% and a net margin of 3.73%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the business posted $0.60 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, June 27th. Franklin Resources's dividend payout ratio (DPR) is 250.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company boosted their price objective on Franklin Resources from $21.50 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. TD Cowen raised Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a report on Wednesday, May 14th. The Goldman Sachs Group raised Franklin Resources from a "neutral" rating to a "buy" rating and set a $29.00 target price for the company in a report on Friday, June 27th. Cowen reaffirmed a "buy" rating on shares of Franklin Resources in a report on Monday, June 16th. Finally, Evercore ISI upped their target price on Franklin Resources from $24.00 to $25.00 and gave the company an "underperform" rating in a report on Monday, August 4th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.58.

Franklin Resources Company Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.