Franklin Resources, Inc. $BEN Position Lifted by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors more than doubled its Franklin Resources stake in the third quarter, adding 115,360 shares to hold 223,941 shares worth approximately $7.2 million. Institutional investors collectively own 47.56% of BEN.
• Franklin Resources reported quarterly EPS of $0.72, exceeding estimates of $0.66, while revenue rose 14.3% year over year to $2.36 billion.
• The company pays a quarterly dividend of $0.33 per share, equivalent to a 4.2% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $35.89, compared with a recent share price of $31.49.

Nisa Investment Advisors LLC lifted its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 106.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,941 shares of the closed-end fund's stock after acquiring an additional 115,360 shares during the quarter. Nisa Investment Advisors LLC's holdings in Franklin Resources were worth $7,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cibc World Market Inc. acquired a new stake in shares of Franklin Resources during the second quarter valued at about $4,418,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Franklin Resources in the first quarter valued at approximately $6,254,000. Deutsche Bank AG acquired a new position in shares of Franklin Resources in the second quarter valued at approximately $37,742,000. Man Group plc acquired a new position in shares of Franklin Resources in the second quarter valued at approximately $2,429,000. Finally, Kinloch Capital LLC bought a new position in Franklin Resources in the 2nd quarter valued at approximately $5,737,000. Institutional investors own 47.56% of the company's stock.

Franklin Resources Trading Down 0.6%

NYSE BEN opened at $31.49 on Friday. The firm has a market capitalization of $16.00 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54. The business's 50-day moving average price is $33.09 and its two-hundred day moving average price is $31.99. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.49 earnings per share. On average, analysts expect that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources's dividend payout ratio is currently 89.80%.

Wall Street Analysts Forecast Growth

BEN has been the topic of several recent research reports. Keefe, Bruyette & Woods assumed coverage on shares of Franklin Resources in a research report on Wednesday, September 9th. They set a "hold" rating and a $38.00 target price on the stock. Zacks Research cut shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Wall Street Zen raised shares of Franklin Resources from a "hold" rating to a "buy" rating in a research note on Sunday, September 27th. Evercore reaffirmed an "underperform" rating and set a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, September 25th. Four 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $35.89.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.

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