Two Sigma Investments LP Boosts Stake in Franklin Resources, Inc. (NYSE:BEN)

Two Sigma Investments LP boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 132.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,935,292 shares of the closed-end fund's stock after buying an additional 1,673,971 shares during the period. Two Sigma Investments LP owned 0.56% of Franklin Resources worth $59,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC raised its position in Franklin Resources by 147.1% in 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 raised its stake in Franklin Resources by 350.4% during 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 increased its holdings in shares of Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after purchasing an additional 505 shares during the period. Headlands Technologies LLC purchased a new position in Franklin Resources during the 4th quarter worth $34,000. Finally, Principal Securities Inc. boosted its holdings in shares of Franklin Resources by 561.1% in the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock valued at $40,000 after acquiring an additional 1,661 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BEN shares. Evercore ISI cut their target price on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a research note on Friday, April 11th. TD Cowen upgraded shares of Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods lifted their price objective on Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Monday, February 3rd. Morgan Stanley lowered their price objective on shares of Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. Finally, Cowen raised Franklin Resources from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Franklin Resources presently has an average rating of "Hold" and a consensus target price of $20.25.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $22.22 on Tuesday. The business's fifty day moving average price is $19.26 and its 200 day moving average price is $20.25. Franklin Resources, Inc. has a twelve month low of $16.25 and a twelve month high of $24.37. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $11.68 billion, a P/E ratio of 34.19, a PEG ratio of 2.31 and a beta of 1.39.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

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.

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