Mizuho Asset Management Co. Ltd. raised its stake in Franklin Resources Inc. (NYSE:BEN) by 111.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,607 shares of the closed-end fund’s stock after buying an additional 2,958 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Franklin Resources were worth $187,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bingham Osborn & Scarborough LLC increased its stake in Franklin Resources by 0.6% in the second quarter. Bingham Osborn & Scarborough LLC now owns 7,935 shares of the closed-end fund’s stock valued at $265,000 after buying an additional 47 shares in the last quarter. Sii Investments Inc. WI increased its position in shares of Franklin Resources by 0.4% in the second quarter. Sii Investments Inc. WI now owns 36,655 shares of the closed-end fund’s stock worth $1,227,000 after buying an additional 130 shares during the period. Essex Financial Services Inc. increased its position in shares of Franklin Resources by 1.6% in the second quarter. Essex Financial Services Inc. now owns 8,759 shares of the closed-end fund’s stock worth $292,000 after buying an additional 140 shares during the period. FTB Advisors Inc. increased its position in shares of Franklin Resources by 8.4% in the second quarter. FTB Advisors Inc. now owns 3,208 shares of the closed-end fund’s stock worth $107,000 after buying an additional 248 shares during the period. Finally, Profit Investment Management LLC increased its position in shares of Franklin Resources by 1.9% in the second quarter. Profit Investment Management LLC now owns 13,725 shares of the closed-end fund’s stock worth $458,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 48.39% of the company’s stock.

Franklin Resources Inc. (NYSE:BEN) traded up 1.23% during midday trading on Wednesday, reaching $35.42. 331,601 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $35.97 and its 200-day moving average price is $36.21. The stock has a market cap of $20.41 billion, a PE ratio of 13.10 and a beta of 1.75. Franklin Resources Inc. has a one year low of $30.56 and a one year high of $42.23.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Thursday, July 28th. The closed-end fund reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.10. Franklin Resources had a return on equity of 12.98% and a net margin of 23.44%. The firm earned $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.82 earnings per share. The company’s revenue was down 18.3% on a year-over-year basis. Equities analysts predict that Franklin Resources Inc. will post $2.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.06%. Franklin Resources’s payout ratio is presently 26.57%.

A number of research analysts have recently issued reports on the stock. Deutsche Bank AG boosted their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Jefferies Group reiterated a “neutral” rating on shares of Franklin Resources in a research note on Tuesday, August 9th. Barclays PLC lifted their price objective on shares of Franklin Resources from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Tuesday, August 9th. Citigroup Inc. lifted their price objective on shares of Franklin Resources from $37.50 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, June 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Franklin Resources from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.74.

In other news, insider Jennifer M. Johnson sold 15,892 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $35.99, for a total transaction of $571,953.08. Following the completion of the transaction, the insider now directly owns 1,473,782 shares in the company, valued at $53,041,414.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $36.18, for a total value of $180,900.00. The disclosure for this sale can be found here. Insiders own 20.41% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.

5 Day Chart for NYSE:BEN

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.