Cibc World Market Inc. Invests $4.42 Million in Franklin Resources, Inc. $BEN

Key Points

• CIBC World Market Inc. acquired 132,786 Franklin Resources shares in the second quarter, valued at approximately $4.42 million. Institutional investors collectively own 47.56% of BEN’s outstanding stock.
• 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.
• Analyst sentiment remains mixed: BEN has a consensus “Hold” rating with an average price target of $32.44, below its reported opening price of $35.07.

Cibc World Market Inc. bought a new stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 132,786 shares of the closed-end fund's stock, valued at approximately $4,418,000.

A number of other large investors have also recently modified their holdings of BEN. Y Intercept Hong Kong Ltd purchased a new stake in shares of Franklin Resources in the first quarter worth about $6,254,000. Forty three Eighteen Advisors LLC acquired a new stake in shares of Franklin Resources in the first quarter valued at about $1,580,000. Deutsche Bank AG acquired a new position in shares of Franklin Resources during the second quarter valued at approximately $37,742,000. Artemis Investment Management LLP purchased a new position in Franklin Resources in the 4th quarter valued at $1,336,000. Finally, Quantum Portfolio Management LLC purchased a new stake in Franklin Resources during the 1st quarter valued at about $941,000. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources Stock Performance

Shares of BEN stock opened at $35.07 on Wednesday. The stock's 50-day moving average is $33.59 and its two-hundred day moving average is $29.84. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current 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 has a market cap of $17.82 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.69 and a beta of 1.55.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 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 analyst estimates of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The firm's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Analysts predict that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

BEN has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Franklin Resources from $30.50 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price objective on Franklin Resources from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Franklin Resources from a "hold" rating to a "buy" rating in a research note on Sunday, June 14th. Finally, Barclays upped their price objective on Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.44.

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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