Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 133,713 Shares of Franklin Resources, Inc. (NYSE:BEN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN – Get Rating) by 38.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,731 shares of the closed-end fund’s stock after acquiring an additional 133,713 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.10% of Franklin Resources worth $10,453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new position in Franklin Resources during the second quarter valued at about $26,000. Newbridge Financial Services Group Inc. grew its stake in shares of Franklin Resources by 413.2% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,242 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of Franklin Resources in the 1st quarter valued at approximately $33,000. Capital Analysts LLC grew its stake in shares of Franklin Resources by 31.8% in the 2nd quarter. Capital Analysts LLC now owns 1,447 shares of the closed-end fund’s stock valued at $34,000 after purchasing an additional 349 shares during the period. Finally, Denali Advisors LLC bought a new stake in shares of Franklin Resources in the 3rd quarter valued at approximately $39,000. 45.47% of the stock is currently owned by institutional investors.

Franklin Resources Stock Up 0.8 %

NYSE:BEN opened at $30.07 on Tuesday. The stock’s fifty day moving average price is $26.89 and its two-hundred day moving average price is $25.54. Franklin Resources, Inc. has a 52-week low of $20.24 and a 52-week high of $35.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $15.04 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 7.78 and a beta of 1.22.

Franklin Resources (NYSE:BEN – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The closed-end fund reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Franklin Resources had a return on equity of 15.16% and a net margin of 15.61%. On average, analysts anticipate that Franklin Resources, Inc. will post 2.44 EPS for the current year.

Franklin Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a $0.30 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.29. Franklin Resources’s dividend payout ratio is 47.62%.

Insider Activity

In related news, insider Franklin Resources Inc purchased 44,574 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were bought at an average price of $4.24 per share, with a total value of $188,993.76. Following the purchase, the insider now directly owns 9,980,453 shares in the company, valued at approximately $42,317,120.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 494,589 shares of company stock valued at $2,067,864 in the last 90 days. 23.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BEN has been the topic of several analyst reports. StockNews.com initiated coverage on Franklin Resources in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company initiated coverage on Franklin Resources in a research note on Wednesday, December 14th. They issued an “underweight” rating and a $26.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a “sell” rating in a report on Wednesday, November 23rd. Credit Suisse Group reduced their target price on Franklin Resources from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Franklin Resources from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.82.

Franklin Resources Profile

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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.