International Assets Investment Management LLC Buys New Holdings in Franklin Resources, Inc. (NYSE:BEN)

International Assets Investment Management LLC bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 152,890 shares of the closed-end fund’s stock, valued at approximately $4,555,000.

Other institutional investors also recently bought and sold shares of the company. Peoples Bank KS acquired a new stake in Franklin Resources during the third quarter worth approximately $25,000. Blue Trust Inc. boosted its position in shares of Franklin Resources by 240.5% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after purchasing an additional 623 shares during the period. Bell Investment Advisors Inc grew its stake in Franklin Resources by 975.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock worth $28,000 after buying an additional 1,034 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $31,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Franklin Resources by 149.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 665 shares during the period. 47.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BEN has been the subject of several recent research reports. BMO Capital Markets lowered their price target on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Franklin Resources from $29.00 to $24.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. TD Cowen dropped their price target on shares of Franklin Resources from $29.00 to $25.50 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley lifted their price objective on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Finally, UBS Group lifted their price target on Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Franklin Resources Stock Performance

NYSE:BEN opened at $23.48 on Thursday. Franklin Resources, Inc. has a 1-year low of $21.88 and a 1-year high of $30.32. The firm has a 50 day simple moving average of $26.32 and a 200-day simple moving average of $26.38. The firm has a market cap of $12.35 billion, a PE ratio of 13.42, a P/E/G ratio of 1.79 and a beta of 1.44. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.82.

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

Franklin Resources Company Profile

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.