Ameritas Investment Partners Inc. Continues to Hold Position in Franklin Resources, Inc. (BEN)
Ameritas Investment Partners Inc. held its stake in shares of Franklin Resources, Inc. (NYSE:BEN) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,983 shares of the closed-end fund’s stock at the close of the 2nd quarter. Ameritas Investment Partners Inc.’s holdings in Franklin Resources were worth $715,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc grew its position in Franklin Resources by 16.1% during the second quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after buying an additional 372 shares during the period. First Midwest Bank Trust Division bought a new stake in Franklin Resources during the second quarter valued at approximately $204,000. NBT Bank N A NY bought a new stake in Franklin Resources during the second quarter valued at approximately $206,000. Global X Management Co. LLC grew its position in Franklin Resources by 7.9% during the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after buying an additional 337 shares during the period. Finally, BB&T Securities LLC bought a new stake in Franklin Resources during the second quarter valued at approximately $208,000. Institutional investors own 44.95% of the company’s stock.
Shares of Franklin Resources, Inc. (BEN) opened at 45.07 on Monday. The company has a market cap of $25.14 billion, a PE ratio of 14.67 and a beta of 1.72. Franklin Resources, Inc. has a 12 month low of $33.02 and a 12 month high of $47.65. The company has a 50-day moving average of $43.59 and a 200 day moving average of $43.45.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. On average, analysts anticipate that Franklin Resources, Inc. will post $2.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. Franklin Resources’s payout ratio is currently 26.14%.
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Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company downgraded shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 price target on shares of Franklin Resources in a report on Friday, July 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 price target (up previously from $39.00) on shares of Franklin Resources in a report on Monday, July 10th. Finally, BidaskClub raised shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $44.36.
Franklin Resources 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.
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