Franklin Resources, Inc. (BEN) Shares Bought by BlackRock Inc.

BlackRock Inc. increased its stake in Franklin Resources, Inc. (NYSE:BEN) by 1,550.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,119,419 shares of the closed-end fund’s stock after buying an additional 19,839,472 shares during the period. BlackRock Inc.’s holdings in Franklin Resources were worth $889,973,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. UBS Group AG increased its stake in Franklin Resources by 31.9% in the first quarter. UBS Group AG now owns 168,858 shares of the closed-end fund’s stock valued at $7,116,000 after buying an additional 40,817 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Franklin Resources by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,218,230 shares of the closed-end fund’s stock valued at $51,336,000 after buying an additional 7,809 shares during the last quarter. Geode Capital Management LLC increased its stake in Franklin Resources by 3.2% in the first quarter. Geode Capital Management LLC now owns 3,529,852 shares of the closed-end fund’s stock valued at $148,544,000 after buying an additional 109,308 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Franklin Resources by 22.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,002 shares of the closed-end fund’s stock valued at $716,000 after buying an additional 3,161 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Franklin Resources by 5.2% in the first quarter. Vanguard Group Inc. now owns 26,930,042 shares of the closed-end fund’s stock valued at $1,134,833,000 after buying an additional 1,337,903 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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

Shares of Franklin Resources, Inc. (BEN) traded down 0.42% during trading on Tuesday, hitting $44.65. The stock had a trading volume of 1,273,163 shares. The company has a market capitalization of $25.06 billion, a price-to-earnings ratio of 14.38 and a beta of 1.73. Franklin Resources, Inc. has a 1-year low of $30.56 and a 1-year high of $45.21. The firm has a 50 day moving average of $42.87 and a 200 day moving average of $41.66.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, April 28th. The closed-end fund reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.07. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Franklin Resources had a return on equity of 14.34% and a net margin of 27.77%. Franklin Resources’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. Analysts expect that Franklin Resources, Inc. will post $2.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, June 28th. Franklin Resources’s dividend payout ratio is currently 25.81%.

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Several analysts have issued reports on the company. BidaskClub upgraded Franklin Resources from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Citigroup Inc. restated a “neutral” rating and set a $43.00 price objective (up previously from $42.00) on shares of Franklin Resources in a report on Friday, June 9th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a report on Wednesday, May 17th. Credit Suisse Group restated a “sell” rating and set a $37.00 price objective on shares of Franklin Resources in a report on Friday, April 7th. Finally, Deutsche Bank AG boosted their price objective on Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, April 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $40.33.

About Franklin Resources

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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