Bank of New York Mellon Corp Has $108.29 Million Stock Position in Franklin Resources, Inc. $BEN

Bank of New York Mellon Corp increased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,584,695 shares of the closed-end fund’s stock after buying an additional 847,645 shares during the period. Bank of New York Mellon Corp’s holdings in Franklin Resources were worth $108,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Franklin Resources in the 4th quarter valued at $98,168,000. Squarepoint Ops LLC lifted its stake in Franklin Resources by 188.2% in the fourth quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock valued at $98,703,000 after buying an additional 2,697,743 shares during the period. Azora Capital LP grew its position in shares of Franklin Resources by 78.8% during the 4th quarter. Azora Capital LP now owns 5,796,575 shares of the closed-end fund’s stock worth $138,480,000 after buying an additional 2,554,105 shares during the period. Holocene Advisors LP bought a new stake in shares of Franklin Resources in the 2nd quarter valued at about $51,384,000. Finally, Northern Trust Corp raised its position in shares of Franklin Resources by 49.8% in the 3rd quarter. Northern Trust Corp now owns 4,118,686 shares of the closed-end fund’s stock valued at $95,265,000 after acquiring an additional 1,370,132 shares during the period. 47.56% of the stock is owned by institutional investors.

Franklin Resources Trading Down 1.3%

Shares of NYSE:BEN opened at $32.22 on Tuesday. The company’s 50-day moving average price is $32.43 and its two-hundred day moving average price is $28.34. Franklin Resources, Inc. has a one year low of $21.10 and a one year high of $34.92. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market capitalization of $16.74 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54.

Franklin Resources (NYSE:BEN) last released its earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.16. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $0.47 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Franklin Resources, Inc. will post 2.81 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 29th. Franklin Resources’s dividend payout ratio is currently 100.76%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BEN. Evercore reiterated an “underperform” rating and issued a $35.00 target price on shares of Franklin Resources in a report on Friday, July 10th. Morgan Stanley raised their price objective on Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Weiss Ratings upgraded Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price target on Franklin Resources from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group lifted their price objective on Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.00.

Franklin Resources Company Profile

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.