Kinloch Capital LLC Purchases New Shares in Franklin Resources, Inc. $BEN

Key Points

• Kinloch Capital LLC acquired 172,427 Franklin Resources shares worth approximately $5.7 million, making the stock its sixth-largest holding and 2.1% of its portfolio. Institutional investors collectively own 47.56% of BEN.
• Analyst sentiment is mixed but improving: Zacks Research upgraded the stock to “strong buy,” while TD Cowen raised its target to $40 and issued a “buy” rating. The overall consensus remains “Hold,” with an average price target of $32.44.
• Franklin Resources reported quarterly earnings of $0.72 per share, beating estimates of $0.66, while revenue reached $2.36 billion, up 14.3% year over year. BEN recently traded at $34.62, near its 52-week high of $36.28.

Kinloch Capital 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 filing with the SEC. The fund acquired 172,427 shares of the closed-end fund's stock, valued at approximately $5,737,000. Franklin Resources comprises approximately 2.1% of Kinloch Capital LLC's investment portfolio, making the stock its 6th biggest holding.

Other large investors also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Franklin Resources in the fourth quarter valued at about $26,000. Motiv8 Investments LLC bought a new stake in Franklin Resources during the 4th quarter worth about $28,000. Leonteq Securities AG bought a new stake in Franklin Resources during the 4th quarter worth about $30,000. Atlas Capital Advisors Inc. acquired a new stake in Franklin Resources in the 4th quarter valued at about $32,000. Finally, Larson Financial Group LLC raised its stake 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 worth $33,000 after acquiring an additional 452 shares during the last quarter. Institutional investors own 47.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BEN shares. Zacks Research raised shares of Franklin Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 22nd. Weiss Ratings upgraded shares of Franklin Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. Barclays upped their price objective on Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Morgan Stanley increased their price objective on Franklin Resources from $31.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, June 26th. Finally, TD Cowen lifted their target price on Franklin Resources from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. One 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 company. According to MarketBeat.com, Franklin Resources has a consensus rating of "Hold" and an average price target of $32.44.

Franklin Resources Trading Up 0.9%

NYSE:BEN opened at $34.62 on Tuesday. 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 1-year low of $21.10 and a 1-year high of $36.28. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.69 and a beta of 1.55. The business's 50-day moving average price is $33.55 and its two-hundred day moving average price is $29.79.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.06. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. On average, equities analysts expect that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Franklin Resources Company Profile

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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