Franklin Resources, Inc. (NYSE:BEN) Shares Bought by TD Asset Management Inc

TD Asset Management Inc lifted its stake in shares of Franklin Resources, Inc. (NYSE:BENFree Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,362 shares of the closed-end fund’s stock after purchasing an additional 2,943 shares during the quarter. TD Asset Management Inc’s holdings in Franklin Resources were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BEN. Norges Bank acquired a new stake in Franklin Resources in the fourth quarter worth $49,547,000. Qube Research & Technologies Ltd bought a new position in shares of Franklin Resources during the third quarter worth about $14,684,000. Invesco Ltd. increased its holdings in shares of Franklin Resources by 6.8% in the 3rd quarter. Invesco Ltd. now owns 6,563,774 shares of the closed-end fund’s stock worth $161,338,000 after acquiring an additional 415,512 shares during the period. Vest Financial LLC boosted its stake in Franklin Resources by 53.6% during the 4th quarter. Vest Financial LLC now owns 1,188,199 shares of the closed-end fund’s stock valued at $35,396,000 after purchasing an additional 414,826 shares during the period. Finally, Dai ichi Life Insurance Company Ltd bought a new position in Franklin Resources in the 4th quarter worth about $9,288,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Performance

NYSE:BEN opened at $22.90 on Friday. The company has a 50-day moving average of $24.51 and a 200-day moving average of $26.39. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 2.02 and a beta of 1.44. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.90. Franklin Resources, Inc. has a twelve month low of $21.88 and a twelve month high of $30.32.

Franklin Resources (NYSE:BENGet Free Report) last issued its earnings results on Monday, April 29th. The closed-end fund reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.66 billion. Franklin Resources had a return on equity of 10.82% and a net margin of 11.09%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. Analysts forecast that Franklin Resources, Inc. will post 2.47 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Friday, June 28th. Franklin Resources’s dividend payout ratio is 70.86%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. TD Cowen reduced their price target on Franklin Resources from $29.00 to $25.50 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price target on Franklin Resources from $29.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Evercore ISI reduced their price objective on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating for the company in a report on Tuesday, April 30th. Finally, BMO Capital Markets lowered their target price on shares of Franklin Resources from $30.00 to $27.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

Check Out Our Latest Analysis on BEN

Franklin Resources Profile

(Free Report)

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.

Further Reading

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

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