BNP Paribas Financial Markets Acquires 62,009 Shares of Franklin Resources, Inc. (NYSE:BEN)

BNP Paribas Financial Markets raised its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 16.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,740 shares of the closed-end fund's stock after purchasing an additional 62,009 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.09% of Franklin Resources worth $13,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BEN. Blue Trust Inc. lifted its stake in shares of Franklin Resources by 240.5% during the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund's stock worth $26,000 after buying an additional 623 shares during the last quarter. Bell Investment Advisors Inc lifted its position in Franklin Resources by 975.5% during the third quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund's stock worth $28,000 after acquiring an additional 1,034 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in shares of Franklin Resources during the fourth quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV grew its position in shares of Franklin Resources by 149.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund's stock valued at $33,000 after purchasing an additional 665 shares during the last quarter. Finally, Tobam increased its stake in shares of Franklin Resources by 2,170.0% during the fourth quarter. Tobam now owns 1,135 shares of the closed-end fund's stock worth $34,000 after purchasing an additional 1,085 shares during the period. 47.56% of the stock is owned by institutional investors.

Franklin Resources Price Performance

NYSE:BEN traded down $0.35 during mid-day trading on Thursday, reaching $24.16. The stock had a trading volume of 3,095,936 shares, compared to its average volume of 3,784,812. Franklin Resources, Inc. has a 12 month low of $21.88 and a 12 month high of $30.32. The stock has a market capitalization of $12.71 billion, a PE ratio of 13.81, a P/E/G ratio of 1.83 and a beta of 1.44. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a 50-day simple moving average of $25.91 and a two-hundred day simple moving average of $26.42.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Monday, April 29th. The closed-end fund reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business posted $0.61 EPS. The company's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Resources, Inc. will post 2.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Franklin Resources from $29.00 to $24.00 and set a "hold" rating for the company in a research note on Tuesday, April 30th. StockNews.com downgraded shares of Franklin Resources from a "buy" rating to a "hold" rating in a research note on Thursday, February 1st. Evercore ISI dropped their price objective on shares of Franklin Resources from $29.00 to $26.00 and set an "underperform" rating for the company in a research note on Tuesday, April 30th. Morgan Stanley boosted their price objective on shares of Franklin Resources from $24.00 to $25.00 and gave the company an "underweight" rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets lowered their target price on shares of Franklin Resources from $30.00 to $27.00 and set a "market perform" rating on the stock in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.00.

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.