Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP raised its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 132.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,935,292 shares of the closed-end fund's stock after buying an additional 1,673,971 shares during the quarter. Two Sigma Investments LP owned about 0.56% of Franklin Resources worth $59,557,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BEN. Avanza Fonder AB acquired a new stake in Franklin Resources during the 4th quarter valued at $345,000. Guinness Asset Management LTD grew its holdings in Franklin Resources by 66.0% during the 4th quarter. Guinness Asset Management LTD now owns 18,457 shares of the closed-end fund's stock valued at $374,000 after buying an additional 7,337 shares during the last quarter. SG Americas Securities LLC grew its holdings in Franklin Resources by 94.8% during the 4th quarter. SG Americas Securities LLC now owns 62,492 shares of the closed-end fund's stock valued at $1,268,000 after buying an additional 30,415 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Franklin Resources by 8.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 535,260 shares of the closed-end fund's stock valued at $10,860,000 after buying an additional 43,445 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its holdings in Franklin Resources by 32.2% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,400 shares of the closed-end fund's stock valued at $312,000 after buying an additional 3,750 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Stock Down 0.4%

Franklin Resources stock traded down $0.09 during midday trading on Friday, hitting $21.53. The stock had a trading volume of 3,287,948 shares, compared to its average volume of 4,364,037. 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 cap of $11.31 billion, a P/E ratio of 33.12, a P/E/G ratio of 2.31 and a beta of 1.39. Franklin Resources, Inc. has a 12 month low of $16.25 and a 12 month high of $24.37. The business has a fifty day moving average price of $19.44 and a 200 day moving average price of $20.28.

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

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 5.95%. Franklin Resources's payout ratio is currently 188.24%.

Wall Street Analysts Forecast Growth

BEN has been the topic of a number of analyst reports. Cowen upgraded Franklin Resources from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Wells Fargo & Company increased their target price on Franklin Resources from $20.00 to $21.50 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. BMO Capital Markets increased their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Bank of America cut their price objective on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Evercore ISI cut their price objective 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 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.25.

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.