Acadian Asset Management LLC increased its position in Franklin Resources, Inc. (NYSE:BEN) by 316.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,064 shares of the closed-end fund’s stock after buying an additional 14,481 shares during the period. Acadian Asset Management LLC’s holdings in Franklin Resources were worth $854,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. TrimTabs Asset Management LLC raised its position in shares of Franklin Resources by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,991 shares of the closed-end fund’s stock worth $126,000 after buying an additional 1,408 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Franklin Resources by 7.9% in the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock worth $193,000 after buying an additional 337 shares during the last quarter. Investment Centers of America Inc. bought a new position in shares of Franklin Resources during the first quarter worth $201,000. Mogy Joel R Investment Counsel Inc. bought a new position in shares of Franklin Resources during the first quarter worth $202,000. Finally, Van ECK Associates Corp raised its position in shares of Franklin Resources by 6.0% in the first quarter. Van ECK Associates Corp now owns 4,847 shares of the closed-end fund’s stock worth $204,000 after buying an additional 276 shares during the last quarter. 45.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Franklin Resources, Inc. (NYSE BEN) traded up 0.56% during midday trading on Friday, hitting $42.87. 689,287 shares of the stock were exchanged. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 13.95 and a beta of 1.73. Franklin Resources, Inc. has a 1-year low of $33.02 and a 1-year high of $47.65. The firm’s 50 day moving average is $45.15 and its 200-day moving average is $42.91.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. On average, analysts predict that Franklin Resources, Inc. will post $2.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Wednesday, June 28th. Franklin Resources’s payout ratio is 26.14%.

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A number of equities analysts have recently commented on the stock. Deutsche Bank AG increased their price objective on shares of Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, UBS AG restated a “neutral” rating and set a $45.00 price objective (down from $46.00) on shares of Franklin Resources in a research note on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Franklin Resources presently has a consensus rating of “Hold” and an average price target of $43.18.

In other Franklin Resources news, CFO Kenneth A. Lewis sold 17,141 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $44.51, for a total value of $762,945.91. Following the transaction, the chief financial officer now directly owns 124,021 shares in the company, valued at $5,520,174.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 21.60% of the stock is owned by insiders.

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.

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

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