Public Employees Retirement System of Ohio boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,887 shares of the closed-end fund’s stock after buying an additional 12,933 shares during the period. Public Employees Retirement System of Ohio’s holdings in Franklin Resources were worth $5,007,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in shares of Franklin Resources by 0.6% in the first quarter. Northern Trust Corp now owns 4,249,082 shares of the closed-end fund’s stock worth $140,815,000 after acquiring an additional 24,064 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Franklin Resources by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,151,160 shares of the closed-end fund’s stock worth $122,917,000 after acquiring an additional 122,024 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Franklin Resources by 17.6% in the second quarter. Schroder Investment Management Group now owns 3,003,248 shares of the closed-end fund’s stock worth $104,513,000 after acquiring an additional 450,309 shares during the last quarter. FMR LLC raised its holdings in shares of Franklin Resources by 15.5% in the first quarter. FMR LLC now owns 2,523,862 shares of the closed-end fund’s stock worth $83,640,000 after acquiring an additional 339,568 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Franklin Resources by 3.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,471,123 shares of the closed-end fund’s stock worth $85,996,000 after acquiring an additional 76,246 shares during the last quarter. 50.47% of the stock is currently owned by institutional investors.

In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $26.01, for a total transaction of $130,050.00. Following the completion of the sale, the executive vice president now owns 100,009 shares of the company’s stock, valued at $2,601,234.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.20% of the stock is currently owned by insiders.

BEN stock traded up $0.20 during trading on Friday, reaching $29.99. 74,045 shares of the stock traded hands, compared to its average volume of 3,013,548. The business’s 50 day moving average price is $28.93 and its 200-day moving average price is $32.62. Franklin Resources, Inc. has a 52-week low of $25.57 and a 52-week high of $35.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.35 and a quick ratio of 3.35. The firm has a market capitalization of $14.33 billion, a PE ratio of 9.39, a P/E/G ratio of 1.58 and a beta of 1.22.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Tuesday, July 30th. The closed-end fund reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.15). Franklin Resources had a net margin of 23.80% and a return on equity of 13.43%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $0.75 EPS. Franklin Resources’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts predict that Franklin Resources, Inc. will post 2.58 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, September 27th. Franklin Resources’s dividend payout ratio (DPR) is presently 32.60%.

A number of equities analysts have recently weighed in on BEN shares. Citigroup boosted their price target on Franklin Resources from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. TheStreet cut Franklin Resources from a “b-” rating to a “c+” rating in a report on Friday, August 9th. ValuEngine cut Franklin Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Barclays set a $27.00 price target on Franklin Resources and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 price target for the company in a report on Thursday. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.02.

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: Certificate of Deposit (CD)

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

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