Franklin Resources, Inc. $BEN Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its holdings in Franklin Resources, Inc. by 20.3%, owning over 7.2 million shares worth approximately $139 million at the end of the last quarter.
• Franklin Resources reported earnings per share of $0.49 for the last quarter, exceeding analysts' estimates of $0.46, but its revenue decreased by 2.2% year-over-year.
• Analysts have mixed ratings on Franklin Resources, with recommendations ranging from Buy to Sell, and an average target price of about $23.58.

Dimensional Fund Advisors LP boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,223,369 shares of the closed-end fund's stock after purchasing an additional 1,220,419 shares during the period. Dimensional Fund Advisors LP owned approximately 1.37% of Franklin Resources worth $139,040,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC raised its stake in Franklin Resources by 147.1% during the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock worth $25,000 after purchasing an additional 737 shares during the period. GeoWealth Management LLC raised its stake in Franklin Resources by 350.4% during the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock worth $26,000 after purchasing an additional 981 shares during the period. Manchester Capital Management LLC raised its stake in Franklin Resources by 49.9% during the first 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 during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Franklin Resources in the 1st quarter valued at approximately $46,000. Finally, Signaturefd LLC raised its stake in shares of Franklin Resources by 39.4% in the 1st quarter. Signaturefd LLC now owns 2,592 shares of the closed-end fund's stock valued at $50,000 after acquiring an additional 732 shares during the period. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Stock Performance

NYSE:BEN traded up $0.0150 during trading hours on Monday, reaching $25.4050. 1,539,847 shares of the company's stock were exchanged, compared to its average volume of 4,484,061. The company has a 50-day moving average of $24.42 and a 200 day moving average of $21.57. Franklin Resources, Inc. has a 1-year low of $16.25 and a 1-year high of $26.08. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 49.81, a P/E/G ratio of 1.48 and a beta of 1.46.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its earnings results on Friday, August 1st. The closed-end fund reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Franklin Resources had a net margin of 3.73% and a return on equity of 8.76%. The business had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The business's revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BEN. Morgan Stanley lifted their target price on shares of Franklin Resources from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Tuesday, August 12th. Cowen reaffirmed a "buy" rating on shares of Franklin Resources in a research note on Monday, June 16th. Wells Fargo & Company increased their target price on shares of 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 upgraded shares of Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Wednesday, May 14th. Finally, Evercore ISI increased their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an "underperform" rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target 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.