Versor Investments LP Purchases New Holdings in Franklin Resources, Inc. (NYSE:BEN)

Versor Investments LP purchased a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 42,253 shares of the closed-end fund’s stock, valued at approximately $944,000.

Other large investors also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Franklin Resources during the 1st quarter valued at about $710,000. Hsbc Holdings PLC raised its holdings in Franklin Resources by 26.3% in the fourth quarter. Hsbc Holdings PLC now owns 708,050 shares of the closed-end fund’s stock worth $21,093,000 after buying an additional 147,497 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Franklin Resources in the first quarter worth about $1,538,000. Norges Bank purchased a new position in Franklin Resources in the fourth quarter worth about $49,547,000. Finally, SG Americas Securities LLC raised its holdings in Franklin Resources by 583.8% in the first quarter. SG Americas Securities LLC now owns 199,225 shares of the closed-end fund’s stock worth $5,600,000 after buying an additional 170,089 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group decreased their target price on shares of Franklin Resources from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays assumed coverage on shares of Franklin Resources in a report on Tuesday, August 27th. They issued an “underweight” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $23.00 target price on shares of Franklin Resources in a report on Thursday, August 22nd. TD Cowen lifted their target price on shares of Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Franklin Resources presently has an average rating of “Hold” and a consensus target price of $24.45.

Insider Activity at Franklin Resources

In other Franklin Resources news, major shareholder Charles B. Johnson bought 200,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was bought at an average cost of $22.80 per share, for a total transaction of $4,560,000.00. Following the completion of the transaction, the insider now owns 88,703,192 shares of the company’s stock, valued at approximately $2,022,432,777.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jennifer M. Johnson purchased 18,900 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $20.95 per share, for a total transaction of $395,955.00. Following the completion of the transaction, the chief executive officer now directly owns 216,900 shares in the company, valued at approximately $4,544,055. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Charles B. Johnson purchased 200,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was purchased at an average price of $22.80 per share, with a total value of $4,560,000.00. Following the completion of the transaction, the insider now owns 88,703,192 shares of the company’s stock, valued at $2,022,432,777.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 331,600 shares of company stock worth $7,189,637. 24.13% of the stock is owned by company insiders.

Franklin Resources Stock Performance

Shares of NYSE BEN opened at $20.24 on Tuesday. The firm has a 50 day moving average of $22.18 and a 200 day moving average of $24.17. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43. Franklin Resources, Inc. has a 12-month low of $19.50 and a 12-month high of $30.32.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, July 26th. The closed-end fund reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. On average, research analysts anticipate that Franklin Resources, Inc. will post 2.41 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.24 annualized dividend and a yield of 6.13%. Franklin Resources’s dividend payout ratio (DPR) is 70.86%.

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.