Allianz Asset Management GmbH Acquires 252,877 Shares of Franklin Resources, Inc. $BEN

Allianz Asset Management GmbH lifted its holdings in Franklin Resources, Inc. (NYSE:BEN) by 36.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 938,353 shares of the closed-end fund’s stock after buying an additional 252,877 shares during the period. Allianz Asset Management GmbH owned about 0.18% of Franklin Resources worth $21,704,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC increased its stake in Franklin Resources by 3,869.2% during the second quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock worth $25,000 after acquiring an additional 1,006 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Franklin Resources in the 3rd quarter worth approximately $25,000. Total Investment Management Inc. bought a new position in shares of Franklin Resources during the 2nd quarter valued at approximately $27,000. Consultiva Wealth Management CORP. raised its holdings in Franklin Resources by 177.1% during the 2nd quarter. Consultiva Wealth Management CORP. now owns 1,283 shares of the closed-end fund’s stock valued at $31,000 after buying an additional 820 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Franklin Resources in the third quarter worth $40,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

Shares of BEN stock opened at $27.24 on Friday. The company has a market capitalization of $14.19 billion, a P/E ratio of 25.22, a P/E/G ratio of 0.86 and a beta of 1.46. The company’s 50-day simple moving average is $24.76 and its two-hundred day simple moving average is $24.12. Franklin Resources, Inc. has a one year low of $16.25 and a one year high of $27.94. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.86 and a quick ratio of 1.40.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, January 30th. The closed-end fund reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.32 annualized dividend and a dividend yield of 4.8%. Franklin Resources’s dividend payout ratio (DPR) is currently 122.22%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays boosted their price objective on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Thursday, January 15th. TD Cowen reiterated a “hold” rating on shares of Franklin Resources in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Franklin Resources from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Morgan Stanley upped their target price on Franklin Resources from $21.00 to $22.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $25.89.

About Franklin Resources

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.