Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Shares in Franklin Resources, Inc. $BEN

Key Points

• Mitsubishi UFJ Asset Management acquired 543,359 shares of Franklin Resources, worth approximately $18.1 million, giving it a 0.11% stake. Institutional investors collectively own 47.56% of the company.
• Analyst sentiment remains mixed: Franklin Resources has an average “Hold” rating and a consensus price target of $32.44, despite recent upgrades and target increases from some firms.
• Franklin Resources exceeded quarterly expectations, reporting $0.72 in EPS versus a $0.66 estimate and $2.36 billion in revenue, up 14.3% year over year.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 543,359 shares of the closed-end fund's stock, valued at approximately $18,078,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Franklin Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of Franklin Resources in the fourth quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in Franklin Resources by 277.0% in the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund's stock valued at $27,000 after purchasing an additional 845 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $28,000. Leonteq Securities AG acquired a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $30,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 47.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price target on Franklin Resources from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, June 26th. Weiss Ratings upgraded Franklin Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. TD Cowen increased their target price on Franklin Resources from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Franklin Resources from a "hold" rating to a "buy" rating in a research note on Sunday, June 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Franklin Resources presently has an average rating of "Hold" and an average price target of $32.44.

Franklin Resources Price Performance

Shares of BEN opened at $34.04 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a market cap of $17.30 billion, a PE ratio of 23.16, a PEG ratio of 0.73 and a beta of 1.55. Franklin Resources, Inc. has a 12-month low of $21.10 and a 12-month high of $36.28. The business has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $29.69.

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

Franklin Resources 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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