MANA Advisors LLC purchased a new stake in Franklin Resources, Inc. (NYSE:BEN) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,035 shares of the closed-end fund’s stock, valued at approximately $435,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BEN. Victory Capital Management Inc. lifted its holdings in Franklin Resources by 56.4% in the 3rd quarter. Victory Capital Management Inc. now owns 54,448 shares of the closed-end fund’s stock valued at $2,423,000 after acquiring an additional 19,626 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Franklin Resources by 4.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 50,618 shares of the closed-end fund’s stock valued at $2,253,000 after acquiring an additional 1,982 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Franklin Resources in the 3rd quarter valued at about $209,000. State of Wisconsin Investment Board lifted its holdings in Franklin Resources by 3.2% in the 3rd quarter. State of Wisconsin Investment Board now owns 526,625 shares of the closed-end fund’s stock valued at $23,440,000 after acquiring an additional 16,393 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Franklin Resources by 2.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 80,943 shares of the closed-end fund’s stock valued at $3,603,000 after acquiring an additional 1,799 shares during the last quarter. 46.35% of the stock is owned by institutional investors.
BEN has been the subject of a number of research analyst reports. ValuEngine raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Thursday, January 11th. Deutsche Bank cut their price objective on Franklin Resources from $40.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, March 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a report on Friday, December 22nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.00.
Shares of Franklin Resources, Inc. (BEN) opened at $40.46 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28. The stock has a market capitalization of $22,321.94, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.64. Franklin Resources, Inc. has a twelve month low of $37.01 and a twelve month high of $47.65.
Franklin Resources (NYSE:BEN) last issued its earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. equities analysts expect that Franklin Resources, Inc. will post 3.26 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be issued a $3.00 dividend. This is an increase from Franklin Resources’s previous special dividend of $0.50. The ex-dividend date is Wednesday, March 28th. This represents a dividend yield of 2.35%. Franklin Resources’s dividend payout ratio is currently 78.63%.
TRADEMARK VIOLATION NOTICE: “MANA Advisors LLC Takes $435,000 Position in Franklin Resources, Inc. (BEN)” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.tickerreport.com/banking-finance/3255022/mana-advisors-llc-takes-435000-position-in-franklin-resources-inc-ben.html.
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).
Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.