UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $40 Million Holdings in Franklin Resources, Inc. $BEN

Key Points

• UBS Asset Management increased its stake in Franklin Resources by 8.7%, acquiring an additional 166,681 shares, bringing total holdings to approximately 2,077,880 shares worth nearly $40 million.
• Several hedge funds also raised their positions in Franklin Resources, with notable increases from Dimensional Fund Advisors (20.3%) and Evergreen Quality Fund GP (99.1%) during the first quarter.
• Franklin Resources declared a quarterly dividend of $0.32 per share, reflecting a 5.3% yield, with a dividend payout ratio of 250.98%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,077,880 shares of the closed-end fund's stock after purchasing an additional 166,681 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.40% of Franklin Resources worth $39,999,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BEN. Manchester Capital Management LLC boosted its stake in Franklin Resources by 49.9% in the first quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund's stock worth $32,000 after buying an additional 555 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Franklin Resources during the first quarter valued at approximately $46,000. Signaturefd LLC boosted its stake in shares of Franklin Resources by 39.4% during the first quarter. Signaturefd LLC now owns 2,592 shares of the closed-end fund's stock valued at $50,000 after purchasing an additional 732 shares during the period. Brooklyn Investment Group boosted its stake in shares of Franklin Resources by 78.3% during the first quarter. Brooklyn Investment Group now owns 3,139 shares of the closed-end fund's stock valued at $60,000 after purchasing an additional 1,378 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Franklin Resources by 79.8% during the first quarter. Private Trust Co. NA now owns 3,802 shares of the closed-end fund's stock valued at $73,000 after purchasing an additional 1,687 shares during the period. Institutional investors and hedge funds own 47.56% of the company's stock.

Analyst Ratings Changes

BEN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Franklin Resources from $22.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Morgan Stanley raised their target price on Franklin Resources from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. Barclays reissued an "underweight" rating and set a $23.00 target price (up previously from $20.00) on shares of Franklin Resources in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on Franklin Resources from $21.50 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, Cowen reiterated a "buy" rating on shares of Franklin Resources in a report on Monday, June 16th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $23.58.

Franklin Resources Trading Down 0.1%

Shares of Franklin Resources stock traded down $0.02 during trading hours on Friday, reaching $24.38. 4,873,322 shares of the company's stock were exchanged, compared to its average volume of 3,412,719. Franklin Resources, Inc. has a 52-week low of $16.25 and a 52-week high of $26.08. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 47.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.51. The company has a fifty day moving average of $24.89 and a 200-day moving average of $22.19. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.94.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its earnings results on Friday, August 1st. The closed-end fund reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Franklin Resources had a return on equity of 8.76% and a net margin of 3.73%.The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the firm earned $0.60 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. Sell-side analysts forecast that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 5.3%. Franklin Resources's dividend payout ratio (DPR) is presently 250.98%.

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.