Morgan Stanley Buys 393,627 Shares of Franklin Resources, Inc. (NYSE:BEN)

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Morgan Stanley grew its position in Franklin Resources, Inc. (NYSE:BEN) by 45.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,258,971 shares of the closed-end fund’s stock after purchasing an additional 393,627 shares during the period. Morgan Stanley owned about 0.25% of Franklin Resources worth $21,012,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Franklin Resources by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,065,924 shares of the closed-end fund’s stock valued at $53,673,000 after purchasing an additional 42,068 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Franklin Resources during the fourth quarter worth approximately $193,000. Bank of Montreal Can raised its stake in shares of Franklin Resources by 4.1% in the fourth quarter. Bank of Montreal Can now owns 259,164 shares of the closed-end fund’s stock valued at $6,732,000 after acquiring an additional 10,102 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Franklin Resources by 7.8% in the 4th quarter. Pacer Advisors Inc. now owns 33,462 shares of the closed-end fund’s stock worth $869,000 after acquiring an additional 2,412 shares in the last quarter. Finally, Assetmark Inc. grew its position in Franklin Resources by 173.8% during the 4th quarter. Assetmark Inc. now owns 15,962 shares of the closed-end fund’s stock worth $415,000 after acquiring an additional 10,132 shares during the last quarter. 48.60% of the stock is currently owned by institutional investors and hedge funds.

BEN has been the topic of a number of recent analyst reports. UBS Group reduced their price objective on Franklin Resources from $27.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Barclays reiterated a “sell” rating and set a $15.00 price target on shares of Franklin Resources in a research report on Thursday, April 16th. Bank of America decreased their price objective on shares of Franklin Resources from $20.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday, March 23rd. ValuEngine downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, Deutsche Bank decreased their price target on shares of Franklin Resources from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Seven investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.43.

BEN stock opened at $20.44 on Wednesday. Franklin Resources, Inc. has a twelve month low of $14.91 and a twelve month high of $35.77. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.12. The company has a market cap of $10.12 billion, a P/E ratio of 7.80 and a beta of 1.26. The business’s fifty day moving average is $20.29 and its 200-day moving average is $21.49.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, April 30th. The closed-end fund reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.22. Franklin Resources had a return on equity of 12.36% and a net margin of 17.29%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Research analysts anticipate that Franklin Resources, Inc. will post 2.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.28%. Franklin Resources’s dividend payout ratio is 42.86%.

Franklin Resources Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.

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

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