Teza Capital Management LLC Buys Shares of 19,970 Franklin Resources, Inc. $BEN

Teza Capital Management LLC purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 19,970 shares of the closed-end fund’s stock, valued at approximately $664,000. Franklin Resources accounts for about 1.3% of Teza Capital Management LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Franklin Resources during the 2nd quarter worth $961,845,000. Azora Capital LP purchased a new stake in shares of Franklin Resources in the second quarter valued at $229,850,000. Bank of New York Mellon Corp acquired a new position in Franklin Resources in the second quarter valued at $152,692,000. Norges Bank purchased a new position in Franklin Resources during the fourth quarter worth about $98,168,000. Finally, Squarepoint Ops LLC lifted its position in Franklin Resources by 188.2% during the fourth quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock worth $98,703,000 after buying an additional 2,697,743 shares during the period. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Resources Stock Performance

Shares of NYSE:BEN opened at $34.19 on Tuesday. The business has a 50-day moving average of $33.70 and a two-hundred day moving average of $30.05. The firm has a market capitalization of $17.37 billion, a PE ratio of 23.26, a P/E/G ratio of 0.69 and a beta of 1.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, research analysts forecast that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, September 30th. Franklin Resources’s payout ratio is currently 89.80%.

Analyst Ratings Changes

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. Morgan Stanley raised their target price on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. TD Cowen boosted their target price on shares of Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Zacks Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, Evercore reaffirmed an “underperform” rating and set a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.44.

Franklin Resources Company Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.