OxFORD Asset Management LLP Grows Stake in Franklin Resources, Inc. (BEN)

OxFORD Asset Management LLP lifted its stake in Franklin Resources, Inc. (NYSE:BEN) by 48.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,115 shares of the closed-end fund’s stock after purchasing an additional 13,486 shares during the period. OxFORD Asset Management LLP’s holdings in Franklin Resources were worth $1,842,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Franklin Resources by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,229,780 shares of the closed-end fund’s stock valued at $55,081,000 after purchasing an additional 11,550 shares in the last quarter. Greenwich Investment Management Inc. bought a new stake in shares of Franklin Resources in the second quarter valued at about $268,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Franklin Resources by 32.0% in the second quarter. Parametric Portfolio Associates LLC now owns 1,031,010 shares of the closed-end fund’s stock valued at $46,179,000 after purchasing an additional 249,672 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Franklin Resources by 9.4% in the second quarter. Advisor Group Inc. now owns 27,563 shares of the closed-end fund’s stock valued at $1,235,000 after purchasing an additional 2,365 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Franklin Resources by 70.2% in the second quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock valued at $75,684,000 after purchasing an additional 696,730 shares in the last quarter. Hedge funds and other institutional investors own 44.95% of the company’s stock.

Shares of Franklin Resources, Inc. (NYSE BEN) opened at 44.75 on Tuesday. The firm has a market capitalization of $24.96 billion, a P/E ratio of 14.56 and a beta of 1.72. The company has a 50-day moving average price of $43.31 and a 200-day moving average price of $43.37. Franklin Resources, Inc. has a 12-month low of $33.02 and a 12-month high of $47.65.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.73. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Franklin Resources, Inc. will post $2.96 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, September 28th. Franklin Resources’s dividend payout ratio (DPR) is presently 26.14%.

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A number of research firms recently issued reports on BEN. Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Thursday, October 12th. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, October 3rd. Barclays PLC started coverage on Franklin Resources in a report on Friday, September 8th. They set an “underweight” rating and a $40.00 price objective for the company. BidaskClub cut Franklin Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, UBS AG reiterated a “neutral” rating and issued a $45.00 price target (down from $46.00) on shares of Franklin Resources in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Franklin Resources currently has an average rating of “Hold” and a consensus target price of $44.36.

Franklin Resources Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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

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