Franklin Resources, Inc. (NYSE:BEN) Stock Holdings Lifted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its holdings in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 450.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,249 shares of the closed-end fund's stock after acquiring an additional 187,626 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Franklin Resources were worth $4,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BEN. GeoWealth Management LLC lifted its stake in shares of Franklin Resources by 350.4% during the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock worth $26,000 after purchasing an additional 981 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 worth $33,000 after acquiring an additional 505 shares during the period. Headlands Technologies LLC acquired a new stake in Franklin Resources in the fourth quarter valued at approximately $34,000. Principal Securities Inc. raised its stake in shares of Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock valued at $40,000 after purchasing an additional 1,661 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Franklin Resources by 29.4% during the fourth quarter. Blue Trust Inc. now owns 2,677 shares of the closed-end fund's stock worth $54,000 after purchasing an additional 609 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Stock Performance

Shares of NYSE:BEN traded up $0.39 during trading on Wednesday, hitting $20.46. 6,426,662 shares of the company traded hands, compared to its average volume of 4,285,455. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The business's fifty day moving average is $18.97 and its 200-day moving average is $20.19. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.31 and a beta of 1.39. Franklin Resources, Inc. has a one year low of $16.25 and a one year high of $24.86.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BEN shares. Barclays lifted their price target on shares of Franklin Resources from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Monday. Morgan Stanley lowered their price objective on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company upped their target price on Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Finally, Cowen reiterated a "hold" rating on shares of Franklin Resources in a research note on Monday. Five equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.46.

About Franklin Resources

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.