Franklin Resources, Inc. (NYSE:BEN) Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Franklin Resources, acquiring an additional 84,049 shares, bringing its total to 799,005 shares worth approximately $15.4 million.
• Several institutional investors, including Principal Financial Group Inc. and Envestnet Asset Management Inc., also raised their positions in Franklin Resources, indicating growing interest in the company.
• Franklin Resources reported a quarterly earnings per share (EPS) of $0.49, exceeding analysts' expectations, though its revenue fell 2.2% from last year.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 11.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 799,005 shares of the closed-end fund's stock after purchasing an additional 84,049 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.15% of Franklin Resources worth $15,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BEN. Two Sigma Advisers LP raised its stake in Franklin Resources by 173.7% during the 4th quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund's stock valued at $71,658,000 after acquiring an additional 2,241,500 shares in the last quarter. Two Sigma Investments LP raised its stake in Franklin Resources by 132.7% during the 4th quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund's stock valued at $59,557,000 after acquiring an additional 1,673,971 shares in the last quarter. First Trust Advisors LP raised its stake in Franklin Resources by 33.1% during the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock valued at $130,645,000 after acquiring an additional 1,599,849 shares in the last quarter. ProShare Advisors LLC raised its stake in Franklin Resources by 19.6% during the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund's stock valued at $190,805,000 after acquiring an additional 1,542,478 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Franklin Resources by 336.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 786,722 shares of the closed-end fund's stock valued at $15,963,000 after acquiring an additional 1,120,022 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Trading Down 1.1%

Shares of Franklin Resources stock traded down $0.29 on Friday, reaching $25.34. 4,280,720 shares of the company were exchanged, compared to its average volume of 4,155,897. The stock has a fifty day moving average price of $24.16 and a 200-day moving average price of $21.41. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 49.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.46. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.94. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $26.08.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its earnings results on Friday, August 1st. The closed-end fund reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.38 billion. Franklin Resources had a return on equity of 8.76% and a net margin of 3.73%. Franklin Resources's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.1%. Franklin Resources's payout ratio is currently 250.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on BEN shares. JPMorgan Chase & Co. lifted their target price on Franklin Resources from $22.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on Franklin Resources from $21.50 to $26.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. The Goldman Sachs Group raised Franklin Resources from a "neutral" rating to a "buy" rating and set a $29.00 price objective on the stock in a research note on Friday, June 27th. TD Cowen raised Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, Morgan Stanley boosted their price objective on Franklin Resources from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Tuesday. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Franklin Resources presently has an average rating of "Hold" and an average target price of $23.58.

Franklin Resources Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.