Y Intercept Hong Kong Ltd Invests $3.55 Million in Franklin Resources, Inc. $BEN

Y Intercept Hong Kong Ltd purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 148,786 shares of the closed-end fund’s stock, valued at approximately $3,549,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Franklin Resources by 16.4% in the 2nd quarter. Bessemer Group Inc. now owns 12,529 shares of the closed-end fund’s stock worth $299,000 after purchasing an additional 1,764 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Franklin Resources by 17.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 114,551 shares of the closed-end fund’s stock worth $2,769,000 after purchasing an additional 17,001 shares in the last quarter. Brighton Jones LLC acquired a new position in Franklin Resources in the 2nd quarter worth about $257,000. MQS Management LLC acquired a new position in Franklin Resources in the 2nd quarter worth about $201,000. Finally, Linden Thomas Advisory Services LLC acquired a new position in Franklin Resources in the 2nd quarter worth about $264,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 1.7%

Shares of Franklin Resources stock opened at $22.94 on Thursday. Franklin Resources, Inc. has a one year low of $16.25 and a one year high of $26.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.55 and a quick ratio of 1.55. The stock’s 50-day moving average is $23.92 and its 200 day moving average is $23.02. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 1.68 and a beta of 1.50.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, August 1st. The closed-end fund reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Franklin Resources had a return on equity of 8.76% and a net margin of 3.73%.The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 5.6%. Franklin Resources’s dividend payout ratio is presently 250.98%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley upped their target price on Franklin Resources from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Tuesday, August 12th. Barclays lowered their target price on Franklin Resources from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Tuesday, October 21st. BMO Capital Markets began coverage on Franklin Resources in a report on Friday, October 3rd. They issued an “outperform” rating and a $26.00 target price for the company. Zacks Research cut Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Evercore ISI decreased their price target on Franklin Resources from $25.00 to $23.00 and set an “underperform” rating for the company in a research note on Thursday, October 9th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $23.83.

Franklin Resources 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.