Franklin Resources, Inc. (BEN) Stake Held by Barings LLC

Barings LLC maintained its position in Franklin Resources, Inc. (NYSE:BEN) during the first quarter, Holdings Channel reports. The institutional investor owned 53,935 shares of the closed-end fund’s stock at the end of the first quarter. Barings LLC’s holdings in Franklin Resources were worth $2,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its position in Franklin Resources by 22.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 7,292 shares of the closed-end fund’s stock valued at $289,000 after buying an additional 1,332 shares during the last quarter. Van ECK Associates Corp raised its position in Franklin Resources by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 4,571 shares of the closed-end fund’s stock valued at $181,000 after buying an additional 48 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Franklin Resources by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,210,421 shares of the closed-end fund’s stock valued at $47,908,000 after buying an additional 4,464 shares during the last quarter. Federated Investors Inc. PA raised its position in Franklin Resources by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 9,148 shares of the closed-end fund’s stock valued at $362,000 after buying an additional 56 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Franklin Resources during the fourth quarter valued at approximately $4,894,000. 45.54% of the stock is owned by institutional investors.

Franklin Resources, Inc. (NYSE BEN) traded up 0.91% during mid-day trading on Monday, hitting $44.38. The company had a trading volume of 195,313 shares. The company has a market capitalization of $24.91 billion, a P/E ratio of 14.30 and a beta of 1.73. The company has a 50-day moving average price of $42.92 and a 200 day moving average price of $41.69. Franklin Resources, Inc. has a 52-week low of $30.56 and a 52-week high of $45.21.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, April 28th. The closed-end fund reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Franklin Resources had a return on equity of 14.34% and a net margin of 27.77%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the business posted $0.61 EPS. Franklin Resources’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that Franklin Resources, Inc. will post $2.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, June 28th. Franklin Resources’s dividend payout ratio (DPR) is 25.81%.

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BEN has been the subject of several recent analyst reports. TheStreet raised shares of Franklin Resources from a “c” rating to a “b-” rating in a research note on Friday, March 3rd. Bank of America Corporation raised shares of Franklin Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, March 16th. Morgan Stanley lowered shares of Franklin Resources from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective for the company. in a research note on Thursday, March 16th. Credit Suisse Group set a $33.00 target price on shares of Franklin Resources and gave the company a “sell” rating in a research note on Monday, March 27th. Finally, Deutsche Bank AG boosted their target price on shares of Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, April 6th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $40.33.

In related news, CFO Kenneth A. Lewis sold 17,141 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $44.51, for a total transaction of $762,945.91. Following the completion of the transaction, the chief financial officer now directly owns 124,021 shares in the company, valued at approximately $5,520,174.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.60% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN).

Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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