Cibc World Market Inc. Invests $4.42 Million in Franklin Resources, Inc. $BEN

Cibc World Market Inc. bought a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 132,786 shares of the closed-end fund’s stock, valued at approximately $4,418,000.

A number of other large investors have also recently modified their holdings of BEN. Y Intercept Hong Kong Ltd purchased a new stake in shares of Franklin Resources in the first quarter worth about $6,254,000. Forty three Eighteen Advisors LLC acquired a new stake in shares of Franklin Resources in the first quarter valued at about $1,580,000. Deutsche Bank AG acquired a new position in shares of Franklin Resources during the second quarter valued at approximately $37,742,000. Artemis Investment Management LLP purchased a new position in Franklin Resources in the 4th quarter valued at $1,336,000. Finally, Quantum Portfolio Management LLC purchased a new stake in Franklin Resources during the 1st quarter valued at about $941,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Performance

Shares of BEN stock opened at $35.07 on Wednesday. The stock’s 50-day moving average is $33.59 and its two-hundred day moving average is $29.84. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. Franklin Resources, Inc. has a 1 year low of $21.10 and a 1 year high of $36.28. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.69 and a beta of 1.55.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The firm’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Analysts predict that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

BEN has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price objective on Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $34.00 price target on shares of Franklin Resources in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, Barclays upped their price objective on Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.44.

Franklin Resources Company Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.