Axa Has $14.62 Million Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Axa decreased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 11.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 875,657 shares of the closed-end fund’s stock after selling 112,590 shares during the quarter. Axa owned approximately 0.18% of Franklin Resources worth $14,615,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. WASHINGTON TRUST Co acquired a new stake in Franklin Resources during the 1st quarter valued at $25,000. Stephenson National Bank & Trust acquired a new stake in Franklin Resources during the 4th quarter valued at $27,000. Signaturefd LLC lifted its holdings in Franklin Resources by 100.7% during the 1st quarter. Signaturefd LLC now owns 2,437 shares of the closed-end fund’s stock valued at $41,000 after purchasing an additional 1,223 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Franklin Resources by 240.4% during the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the closed-end fund’s stock valued at $68,000 after purchasing an additional 2,914 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in Franklin Resources by 24.3% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,731 shares of the closed-end fund’s stock valued at $71,000 after purchasing an additional 534 shares during the last quarter. 48.60% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE BEN opened at $20.38 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.90 and a current ratio of 3.90. Franklin Resources, Inc. has a 52 week low of $14.91 and a 52 week high of $35.77. The stock has a market capitalization of $10.09 billion, a P/E ratio of 10.45 and a beta of 1.27. The stock’s fifty day moving average is $20.41 and its 200 day moving average is $21.40.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Thursday, April 30th. The closed-end fund reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.22. Franklin Resources had a return on equity of 12.36% and a net margin of 17.29%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.72 earnings per share. Franklin Resources’s revenue was down 6.7% on a year-over-year basis. Equities research analysts forecast that Franklin Resources, Inc. will post 2.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend is Tuesday, July 14th. Franklin Resources’s dividend payout ratio is presently 42.86%.

A number of research firms have recently weighed in on BEN. Cfra dropped their target price on Franklin Resources from $29.00 to $20.00 and set a “hold” rating for the company in a report on Friday, May 1st. ValuEngine downgraded Franklin Resources from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Deutsche Bank dropped their target price on Franklin Resources from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, May 15th. UBS Group dropped their target price on Franklin Resources from $27.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Bank of America dropped their target price on Franklin Resources from $20.00 to $16.00 and set an “underperform” rating for the company in a report on Monday, March 23rd. Seven research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $23.43.

About Franklin Resources

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.

Read More: Understanding Price to Earnings Ratio (PE)

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

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