Gallagher Fiduciary Advisors LLC Makes New $45.90 Million Investment in Franklin Resources, Inc. $BEN

Key Points

• Gallagher Fiduciary Advisors LLC acquired 1.38 million shares of Franklin Resources in the second quarter, valued at approximately $45.9 million. The position represents about 0.27% of Franklin Resources and 1.5% of Gallagher’s portfolio.
• 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 stock was trading at $35.07, near its 52-week high of $36.28.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $32.44, although TD Cowen and Goldman Sachs maintain “Buy” ratings with higher targets.

Gallagher Fiduciary Advisors LLC acquired a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,379,739 shares of the closed-end fund's stock, valued at approximately $45,904,000. Franklin Resources comprises about 1.5% of Gallagher Fiduciary Advisors LLC's holdings, making the stock its 10th biggest holding. Gallagher Fiduciary Advisors LLC owned approximately 0.27% of Franklin Resources as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BEN. Danske Bank A S acquired a new position in shares of Franklin Resources during the 4th quarter worth about $26,000. Motiv8 Investments LLC bought a new position in Franklin Resources during the fourth quarter worth about $28,000. Leonteq Securities AG acquired a new position in Franklin Resources during the fourth quarter worth approximately $30,000. Atlas Capital Advisors Inc. bought a new stake in Franklin Resources in the fourth quarter valued at approximately $32,000. Finally, Larson Financial Group LLC lifted its position in shares of Franklin Resources by 48.1% in the fourth quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund's stock valued at $33,000 after buying an additional 452 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Trading Up 1.3%

BEN stock opened at $35.07 on Wednesday. Franklin Resources, Inc. has a 52 week low of $21.10 and a 52 week high of $36.28. The company has a market capitalization of $17.82 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55. The company's 50-day simple moving average is $33.59 and its 200 day simple moving average is $29.84. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48.

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 for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The business's revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Franklin Resources from $28.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Morgan Stanley upped their price objective on shares of Franklin Resources from $31.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, June 26th. TD Cowen raised their target price on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of Franklin Resources from a "hold" rating to a "buy" rating in a research note on Sunday, June 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Franklin Resources from $30.50 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.44.

About Franklin Resources

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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