Mn Services Vermogensbeheer B.V. Has $2.03 Million Holdings in Franklin Resources, Inc. (NYSE:BEN)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 12.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,588 shares of the closed-end fund's stock after selling 14,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Franklin Resources were worth $2,033,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BEN. Principal Securities Inc. boosted its holdings in Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock worth $40,000 after buying an additional 1,661 shares in the last quarter. Allworth Financial LP boosted its holdings in Franklin Resources by 82.7% during the fourth quarter. Allworth Financial LP now owns 6,307 shares of the closed-end fund's stock worth $125,000 after buying an additional 2,855 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Franklin Resources by 2.8% during the fourth quarter. CIBC Asset Management Inc now owns 59,818 shares of the closed-end fund's stock worth $1,214,000 after buying an additional 1,615 shares in the last quarter. Truist Financial Corp boosted its holdings in Franklin Resources by 10.9% during the fourth quarter. Truist Financial Corp now owns 37,358 shares of the closed-end fund's stock worth $758,000 after buying an additional 3,669 shares in the last quarter. Finally, Kestra Investment Management LLC boosted its holdings in Franklin Resources by 105.7% during the fourth quarter. Kestra Investment Management LLC now owns 36,791 shares of the closed-end fund's stock worth $746,000 after buying an additional 18,903 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Stock Up 0.8%

Shares of BEN traded up $0.18 during mid-day trading on Friday, hitting $22.77. 7,043,092 shares of the company's stock were exchanged, compared to its average volume of 4,490,156. The firm has a fifty day moving average of $20.75 and a two-hundred day moving average of $20.28. Franklin Resources, Inc. has a twelve month low of $16.25 and a twelve month high of $24.37. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 33.49, a P/E/G ratio of 3.07 and a beta of 1.43. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.93.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Franklin Resources had a net margin of 4.65% and a return on equity of 9.13%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Franklin Resources's quarterly revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a yield of 5.62%. Franklin Resources's payout ratio is presently 188.24%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BEN shares. Cowen restated a "buy" rating on shares of Franklin Resources in a report on Monday, June 16th. Wells Fargo & Company upped their price target on shares of Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Evercore ISI reduced their price target on shares of Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced their price target on shares of Franklin Resources from $18.00 to $15.00 and set an "underweight" rating for the company in a research report on Monday, April 7th. Finally, Barclays upped their price target on shares of Franklin Resources from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.25.

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.