Aster Capital Management DIFC Ltd Raises Stock Position in Franklin Resources, Inc. $BEN

Aster Capital Management DIFC Ltd grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 1,331.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,768 shares of the closed-end fund’s stock after purchasing an additional 22,108 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Franklin Resources were worth $550,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in Franklin Resources by 4.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 12,287 shares of the closed-end fund’s stock worth $284,000 after buying an additional 531 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Franklin Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 17,150 shares of the closed-end fund’s stock worth $397,000 after acquiring an additional 583 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Franklin Resources by 7.7% during the third quarter. Exchange Traded Concepts LLC now owns 9,354 shares of the closed-end fund’s stock worth $216,000 after acquiring an additional 671 shares during the period. Fifth Third Bancorp raised its stake in shares of Franklin Resources by 11.2% in the third quarter. Fifth Third Bancorp now owns 6,846 shares of the closed-end fund’s stock valued at $158,000 after acquiring an additional 691 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Franklin Resources by 8.3% in the second quarter. SBI Securities Co. Ltd. now owns 9,351 shares of the closed-end fund’s stock valued at $223,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Price Performance

Shares of NYSE:BEN opened at $27.42 on Friday. Franklin Resources, Inc. has a one year low of $16.25 and a one year high of $28.32. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 0.85 and a beta of 1.46. The company has a 50-day simple moving average of $25.92 and a 200-day simple moving average of $24.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.86 and a current ratio of 1.86.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $2.23 billion. Franklin Resources had a return on equity of 9.58% and a net margin of 6.97%.The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. On average, analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, March 31st. Franklin Resources’s dividend payout ratio is 122.22%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BEN. TD Cowen restated a “hold” rating on shares of Franklin Resources in a report on Monday, February 2nd. Evercore upped their target price on shares of Franklin Resources from $26.00 to $28.00 and gave the stock an “underperform” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a report on Monday, December 29th. Finally, Barclays increased their price objective on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Franklin Resources presently has a consensus rating of “Reduce” and a consensus target price of $25.89.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.