MBB Public Markets I LLC Acquires New Position in Franklin Resources, Inc. (NYSE:BEN)

MBB Public Markets I LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 21,300 shares of the closed-end fund’s stock, valued at approximately $476,000.

Several other large investors have also recently bought and sold shares of BEN. Altshuler Shaham Ltd bought a new stake in Franklin Resources in the second quarter valued at approximately $27,000. Sentry Investment Management LLC bought a new stake in Franklin Resources in the second quarter valued at approximately $30,000. Headlands Technologies LLC bought a new stake in Franklin Resources in the first quarter valued at approximately $32,000. Denali Advisors LLC bought a new stake in Franklin Resources in the first quarter valued at approximately $44,000. Finally, Trust Co. of Vermont bought a new stake in Franklin Resources in the fourth quarter valued at approximately $45,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Down 2.2 %

Franklin Resources stock opened at $19.71 on Wednesday. The company has a market cap of $10.37 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.39. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $21.05 and a 200 day simple moving average of $23.09. Franklin Resources, Inc. has a 1-year low of $18.94 and a 1-year high of $30.32.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. Research analysts anticipate that Franklin Resources, Inc. will post 2.41 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Monday, September 30th. Franklin Resources’s dividend payout ratio is presently 70.86%.

Insider Transactions at Franklin Resources

In related news, major shareholder Charles B. Johnson bought 100,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $19.08 per share, for a total transaction of $1,908,000.00. Following the purchase, the insider now owns 89,308,192 shares in the company, valued at approximately $1,704,000,303.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Franklin Resources news, major shareholder Charles B. Johnson purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $19.08 per share, with a total value of $1,908,000.00. Following the completion of the transaction, the insider now owns 89,308,192 shares in the company, valued at $1,704,000,303.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer M. Johnson purchased 12,700 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the transaction, the chief executive officer now owns 2,637,700 shares of the company’s stock, valued at approximately $51,857,182. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 231,600 shares of company stock worth $4,537,637. 24.13% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a research report on Monday. Wells Fargo & Company assumed coverage on shares of Franklin Resources in a research report on Thursday, September 12th. They set an “equal weight” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $23.00 price objective on shares of Franklin Resources in a research report on Thursday, August 22nd. BMO Capital Markets lowered their price objective on shares of Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.85.

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.