Universal Beteiligungs und Servicegesellschaft mbH Acquires 39,276 Shares of Franklin Resources, Inc. (NYSE:BEN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Franklin Resources, Inc. by 37% during Q1, owning 145,512 shares valued at approximately $2.8 million.
• Analyst ratings for Franklin Resources vary widely, with a consensus rating of "Hold" and an average price target of $21.92.
• Franklin Resources reported a quarterly EPS of $0.47 which met estimates, but its revenue fell 6.2% year-over-year to $2.11 billion.

Universal Beteiligungs und Servicegesellschaft mbH increased its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 37.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,512 shares of the closed-end fund's stock after buying an additional 39,276 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Franklin Resources were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Franklin Resources during the fourth quarter valued at about $53,676,000. Two Sigma Advisers LP lifted its holdings in Franklin Resources by 173.7% in the fourth quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund's stock worth $71,658,000 after acquiring an additional 2,241,500 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Franklin Resources by 132.7% in the fourth quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund's stock worth $59,557,000 after acquiring an additional 1,673,971 shares during the last quarter. First Trust Advisors LP lifted its holdings in Franklin Resources by 33.1% in the fourth quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock worth $130,645,000 after acquiring an additional 1,599,849 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Franklin Resources by 19.6% in the fourth quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund's stock worth $190,805,000 after acquiring an additional 1,542,478 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Price Performance

Franklin Resources stock traded down $0.05 during mid-day trading on Friday, hitting $23.95. The company's stock had a trading volume of 8,425,904 shares, compared to its average volume of 3,801,353. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $12.59 billion, a P/E ratio of 35.22, a P/E/G ratio of 1.73 and a beta of 1.46. Franklin Resources, Inc. has a twelve month low of $16.25 and a twelve month high of $25.36. The stock's fifty day moving average price is $23.37 and its two-hundred day moving average price is $21.00.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The closed-end fund reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Franklin Resources had a net margin of 4.65% and a return on equity of 9.13%. The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the previous year, the company posted $0.60 EPS. The company's quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a yield of 5.3%. Franklin Resources's payout ratio is currently 188.24%.

Analyst Ratings Changes

BEN has been the topic of a number of recent research reports. The Goldman Sachs Group raised shares of Franklin Resources from a "neutral" rating to a "buy" rating and set a $29.00 target price on the stock in a report on Friday, June 27th. Barclays lifted their price target on Franklin Resources from $19.00 to $20.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Evercore ISI cut their price target on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a report on Friday, April 11th. Morgan Stanley lifted their price target on Franklin Resources from $14.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company lifted their price target on Franklin Resources from $21.50 to $26.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Franklin Resources currently has an average rating of "Hold" and a consensus price target of $21.92.

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.