SEB Asset Management AB Takes Position in Franklin Resources, Inc. $BEN

SEB Asset Management AB bought a new stake in Franklin Resources, Inc. (NYSE:BEN) in the first quarter, HoldingsChannel.com reports. The firm bought 593,519 shares of the closed-end fund’s stock, valued at approximately $14,019,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Franklin Resources during the 4th quarter worth about $98,168,000. Squarepoint Ops LLC increased its stake in shares of Franklin Resources by 188.2% during the fourth quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock worth $98,703,000 after buying an additional 2,697,743 shares during the period. Azora Capital LP raised its holdings in Franklin Resources by 78.8% in the fourth quarter. Azora Capital LP now owns 5,796,575 shares of the closed-end fund’s stock valued at $138,480,000 after acquiring an additional 2,554,105 shares in the last quarter. Holocene Advisors LP acquired a new stake in Franklin Resources in the second quarter valued at approximately $51,384,000. Finally, Bank of New York Mellon Corp lifted its stake in Franklin Resources by 125.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,737,050 shares of the closed-end fund’s stock worth $89,278,000 after acquiring an additional 2,078,369 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Down 1.3%

Shares of NYSE:BEN opened at $32.22 on Tuesday. Franklin Resources, Inc. has a 1-year low of $21.10 and a 1-year high of $34.92. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market cap of $16.74 billion, a P/E ratio of 24.60, a P/E/G ratio of 0.72 and a beta of 1.54. The firm has a fifty day moving average price of $32.43 and a 200 day moving average price of $28.34.

Franklin Resources (NYSE:BEN) last announced its earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Franklin Resources, Inc. will post 2.81 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, June 29th. Franklin Resources’s dividend payout ratio (DPR) is 100.76%.

Analysts Set New Price Targets

BEN has been the subject of several analyst reports. Zacks Research upgraded shares of Franklin Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. TD Cowen raised their price objective on shares of Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Evercore reaffirmed an “underperform” rating and set a $35.00 price objective on shares of Franklin Resources in a research report on Friday, July 10th. Morgan Stanley boosted their target price on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.00.

Franklin Resources 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.