Franklin Resources, Inc. $BEN Shares Newly Acquired by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors acquired 202,856 shares of Franklin Resources during the third quarter, valued at approximately $6.5 million. Institutional investors and hedge funds collectively own 47.56% of the company.
• 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, equivalent to $1.32 annually and a 4.2% yield. Analysts have a consensus “Hold” rating with an average price target of $35.89.

Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 202,856 shares of the closed-end fund's stock, valued at approximately $6,516,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEN. BlackRock Inc. purchased a new stake in shares of Franklin Resources during the 2nd quarter worth approximately $961,845,000. Azora Capital LP purchased a new position in Franklin Resources in the 2nd quarter valued at approximately $229,850,000. Bank of New York Mellon Corp purchased a new position in Franklin Resources in the 2nd quarter valued at approximately $152,692,000. Gallagher Fiduciary Advisors LLC acquired a new stake in Franklin Resources in the second quarter valued at $45,904,000. Finally, Bank of America Corp DE acquired a new stake in Franklin Resources in the second quarter valued at $41,068,000. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

Shares of NYSE BEN opened at $31.65 on Thursday. The company has a 50-day simple moving average of $33.14 and a 200-day simple moving average of $31.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $16.08 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54. 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 announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.06. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Resources, Inc. will post 2.91 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $0.33 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 annualized dividend and a yield of 4.2%. Franklin Resources's payout ratio is 89.80%.

Wall Street Analyst Weigh In

BEN has been the subject of several research reports. 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. TD Cowen lowered their price objective on shares of Franklin Resources from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, October 12th. Zacks Research cut shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays restated a "mixed" rating on shares of Franklin Resources in a report on Wednesday, October 14th. Finally, Keefe, Bruyette & Woods began 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 for the company. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $35.89.

Franklin Resources 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.

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.