115,360 Franklin Resources, Inc. $BEN Shares Acquired by Nisa Investment Advisors LLC

by · The Markets Daily

Nisa Investment Advisors LLC increased its position in shares of Franklin Resources, Inc. (NYSE:BEN – Free Report) by 106.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 223,941 shares of the closed-end fund’s stock after buying an additional 115,360 shares during the period. Nisa Investment Advisors LLC’s holdings in Franklin Resources were worth $7,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BEN. BlackRock Inc. bought a new stake in Franklin Resources during the second quarter valued at $961,845,000. Azora Capital LP acquired a new stake in Franklin Resources during the 2nd quarter worth about $229,850,000. Bank of New York Mellon Corp acquired a new stake in Franklin Resources during the 2nd quarter worth about $152,692,000. Gallagher Fiduciary Advisors LLC bought a new position in shares of Franklin Resources in the 2nd quarter worth about $45,904,000. Finally, Bank of America Corp DE bought a new position in shares of Franklin Resources in the 2nd quarter worth about $41,068,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 0.6%

Franklin Resources stock opened at $31.49 on Friday. The company has a market capitalization of $16.00 billion, a PE ratio of 21.42, a PEG ratio of 0.57 and a beta of 1.54. Franklin Resources, Inc. has a 12-month low of $21.10 and a 12-month high of $36.28. The firm’s fifty day moving average is $33.09 and its 200 day moving average is $31.99. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22.

Franklin Resources (NYSE:BEN – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share. As a group, sell-side analysts predict that Franklin Resources, Inc. will post 2.91 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Franklin Resources’s dividend payout ratio is currently 89.80%.

Analyst Ratings Changes

BEN has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Franklin Resources in a research note on Wednesday, October 7th. They issued a “buy” rating and a $40.00 price objective on the stock. Wall Street Zen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Franklin Resources in a research note on Monday, August 31st. Morgan Stanley lifted their target price on Franklin Resources from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Finally, Evercore reissued an “underperform” rating and issued a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.89.

Get Our Latest Stock Report on BEN

About Franklin Resources

(Free Report)

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.

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