Robeco Institutional Asset Management B.V. Buys 19,673 Shares of Franklin Resources, Inc. (NYSE:BEN)

Robeco Institutional Asset Management B.V. increased its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 476,253 shares of the closed-end fund's stock after purchasing an additional 19,673 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.09% of Franklin Resources worth $9,168,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CoreCap Advisors LLC increased its position in shares of Franklin Resources by 147.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after purchasing an additional 737 shares during the last quarter. GeoWealth Management LLC grew its position in Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock valued at $26,000 after acquiring an additional 981 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after acquiring an additional 505 shares during the last quarter. Headlands Technologies LLC bought a new position in Franklin Resources in the 4th quarter valued at $34,000. Finally, Contravisory Investment Management Inc. bought a new position in Franklin Resources in the 1st quarter valued at $46,000. Institutional investors own 47.56% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BEN. Barclays upped their price objective on Franklin Resources from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Morgan Stanley cut their price objective on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. 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 report on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of Franklin Resources in a research report on Monday, June 16th. Finally, Evercore ISI dropped their price target on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a research report on Friday, April 11th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.88.

Franklin Resources Stock Up 1.6%

Franklin Resources stock opened at $23.85 on Monday. 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, Inc. has a 52 week low of $16.25 and a 52 week high of $24.37. The business's 50-day moving average price is $21.30 and its 200 day moving average price is $20.31. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 3.21 and a beta of 1.43.

Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.44 billion. Franklin Resources had a return on equity of 9.13% and a net margin of 4.65%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. As a group, sell-side analysts anticipate 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. Stockholders of record on Friday, June 27th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.28 annualized dividend and a dividend yield of 5.37%. Franklin Resources's dividend payout ratio (DPR) is presently 188.24%.

Franklin Resources Company 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.

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