Franklin Resources, Inc. $BEN Shares Acquired by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its Franklin Resources stake by 246.7% in the third quarter, adding 396,310 shares to own 556,928 shares valued at approximately $19.7 million.
• 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 an annualized yield of about 4.2%. Analysts maintain a consensus “Hold” rating with an average price target of $35.89.

Robeco Institutional Asset Management B.V. increased its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 246.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 556,928 shares of the closed-end fund's stock after acquiring an additional 396,310 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.11% of Franklin Resources worth $19,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Franklin Resources during the 2nd quarter valued at $961,845,000. Azora Capital LP bought a new position in shares of Franklin Resources in the second quarter worth $229,850,000. Bank of New York Mellon Corp purchased a new stake in shares of Franklin Resources in the second quarter worth $152,692,000. Kopernik Global Investors LLC raised its position in shares of Franklin Resources by 4.6% in the first quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund's stock worth $83,204,000 after buying an additional 153,422 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Franklin Resources by 37.3% in the first quarter. Bank of America Corp DE now owns 1,964,424 shares of the closed-end fund's stock worth $46,400,000 after buying an additional 533,192 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Resources Stock Performance

Franklin Resources stock opened at $31.06 on Friday. The firm's fifty day moving average price is $33.04 and its 200-day moving average price is $31.98. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $15.78 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54. Franklin Resources, Inc. has a fifty-two week low of $21.10 and a fifty-two week high of $36.28.

Franklin Resources (NYSE:BEN - Get Free Report) last posted 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. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $0.49 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Franklin Resources, Inc. will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently declared 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. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Franklin Resources's dividend payout ratio (DPR) is presently 89.80%.

Analyst Upgrades and Downgrades

BEN has been the subject of several research analyst reports. TD Cowen dropped their price objective on Franklin Resources from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Weiss Ratings restated a "buy (b-)" rating on shares of Franklin Resources in a research note on Monday, August 31st. UBS Group began coverage on Franklin Resources in a report on Wednesday, October 7th. They issued a "buy" rating and a $40.00 price target on the stock. Wall Street Zen upgraded Franklin Resources from a "hold" rating to a "buy" rating in a research report on Sunday, September 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $34.00 price objective on shares of Franklin Resources in a report on Monday, August 3rd. 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.89.

About Franklin Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.