Franklin Resources, Inc. (NYSE:BEN) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in Franklin Resources, Inc. (NYSE:BENFree Report) by 16.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 449,740 shares of the closed-end fund’s stock after acquiring an additional 62,009 shares during the quarter. BNP Paribas Financial Markets’ holdings in Franklin Resources were worth $13,398,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BEN. Blue Trust Inc. lifted its position in Franklin Resources by 240.5% during the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after acquiring an additional 623 shares during the period. Creative Financial Designs Inc. ADV purchased a new stake in shares of Franklin Resources during the fourth quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Franklin Resources by 149.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 665 shares during the period. Tobam grew its position in Franklin Resources by 2,170.0% in the 4th quarter. Tobam now owns 1,135 shares of the closed-end fund’s stock valued at $34,000 after buying an additional 1,085 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its stake in Franklin Resources by 975.5% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock valued at $28,000 after buying an additional 1,034 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Analyst Upgrades and Downgrades

BEN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Franklin Resources from $29.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. TD Cowen lowered their price objective on Franklin Resources from $29.00 to $25.50 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Evercore ISI cut their target price on Franklin Resources from $29.00 to $26.00 and set an “underperform” rating for the company in a research note on Tuesday, April 30th. StockNews.com cut Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, BMO Capital Markets cut their price objective on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Franklin Resources has an average rating of “Hold” and an average price target of $26.00.

Check Out Our Latest Stock Analysis on Franklin Resources

Franklin Resources Stock Performance

NYSE BEN opened at $24.51 on Thursday. The business has a 50 day moving average price of $25.97 and a 200 day moving average price of $26.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $12.89 billion, a P/E ratio of 14.01, a PEG ratio of 1.83 and a beta of 1.44. Franklin Resources, Inc. has a 1-year low of $21.88 and a 1-year high of $30.32.

Franklin Resources (NYSE:BENGet Free Report) last announced its quarterly 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). Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Franklin Resources, Inc. will post 2.47 EPS for the current fiscal year.

About Franklin Resources

(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.

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

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