Commerce Bank acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 111,734 shares of the closed-end fund's stock, valued at approximately $3,717,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in shares of Franklin Resources in the 4th quarter valued at about $26,000. Motiv8 Investments LLC bought a new position in shares of Franklin Resources during the fourth quarter worth about $28,000. Leonteq Securities AG acquired a new stake in Franklin Resources in the 4th quarter valued at approximately $30,000. Atlas Capital Advisors Inc. bought a new stake in Franklin Resources in the 4th quarter valued at approximately $32,000. Finally, Larson Financial Group LLC boosted its position in Franklin Resources by 48.1% during the 4th quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund's stock worth $33,000 after acquiring an additional 452 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.
Franklin Resources Trading Up 0.9%
NYSE BEN opened at $34.62 on Tuesday. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28. 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 stock has a 50 day moving average of $33.55 and a 200-day moving average of $29.79. The company has a market cap of $17.59 billion, a PE ratio of 23.55, a PEG ratio of 0.69 and a beta of 1.55.
Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 2.88 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on BEN shares. JPMorgan Chase & Co. boosted their price objective on shares of Franklin Resources from $28.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Franklin Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. Morgan Stanley increased their price objective on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Barclays raised their price objective on Franklin Resources from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $34.00 target price on shares of Franklin Resources in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.44.
View Our Latest Analysis on BEN
About Franklin Resources
(
Free Report)
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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