Kopernik Global Investors LLC Grows Holdings in Franklin Resources, Inc. $BEN

Kopernik Global Investors LLC grew its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,522,587 shares of the closed-end fund’s stock after buying an additional 153,422 shares during the quarter. Franklin Resources accounts for about 5.8% of Kopernik Global Investors LLC’s holdings, making the stock its 6th biggest position. Kopernik Global Investors LLC’s holdings in Franklin Resources were worth $83,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BEN. Danske Bank A S bought a new position in Franklin Resources in the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its stake in Franklin Resources by 277.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 845 shares during the last quarter. Motiv8 Investments LLC bought a new stake in Franklin Resources during the 4th quarter worth approximately $28,000. Leonteq Securities AG bought a new stake in Franklin Resources during the 4th quarter worth approximately $30,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Franklin Resources in the fourth quarter worth approximately $32,000. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

Shares of BEN stock opened at $32.40 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 0.72 and a beta of 1.54. Franklin Resources, Inc. has a 52 week low of $21.10 and a 52 week high of $34.92. The firm’s 50-day simple moving average is $32.45 and its two-hundred day simple moving average is $28.46.

Franklin Resources (NYSE:BEN) last released its earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share 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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $0.47 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Franklin Resources, Inc. will post 2.81 earnings per share for the current year.

Franklin Resources Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on BEN shares. Evercore reaffirmed an “underperform” rating and set a $35.00 target price on shares of Franklin Resources in a research report on Friday, July 10th. Barclays increased their price target on Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group raised their price objective on Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, Zacks Research upgraded shares of Franklin Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and an average target price 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.