Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in Franklin Resources, Inc. $BEN

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 133,295 shares of the closed-end fund’s stock, valued at approximately $4,281,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Unison Advisors LLC raised its position in shares of Franklin Resources by 1.0% in the third quarter. Unison Advisors LLC now owns 116,911 shares of the closed-end fund’s stock valued at $3,794,000 after buying an additional 1,127 shares during the last quarter. Americana Partners LLC grew its stake in Franklin Resources by 5.3% during the 3rd quarter. Americana Partners LLC now owns 69,765 shares of the closed-end fund’s stock valued at $2,241,000 after acquiring an additional 3,485 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Franklin Resources by 10.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 46,900 shares of the closed-end fund’s stock valued at $1,506,000 after acquiring an additional 4,300 shares in the last quarter. Founders Financial Securities LLC acquired a new stake in Franklin Resources in the 3rd quarter valued at about $740,000. Finally, Choreo LLC raised its holdings in Franklin Resources by 5.0% in the 3rd quarter. Choreo LLC now owns 7,590 shares of the closed-end fund’s stock valued at $244,000 after acquiring an additional 360 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

NYSE:BEN traded up $1.63 during trading hours on Friday, reaching $33.84. 7,203,101 shares of the company’s stock were exchanged, compared to its average volume of 3,711,410. The firm has a market capitalization of $17.19 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 0.57 and a beta of 1.56. The company has a 50-day moving average of $32.58 and a 200 day moving average of $30.38. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22. Franklin Resources, Inc. has a 1-year low of $21.10 and a 1-year high of $36.28.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business posted $0.67 earnings per share. Franklin Resources’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, September 30th. Franklin Resources’s payout ratio is 89.80%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BEN. TD Cowen decreased their target price on shares of Franklin Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. JPMorgan Chase & Co. upped their price target on Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, October 12th. Keefe, Bruyette & Woods started coverage on Franklin Resources in a report on Wednesday, September 9th. They issued a “hold” rating and a $38.00 price target for the company. Wall Street Zen lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Zacks Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.89.

Franklin Resources News Roundup

Here are the key news stories impacting Franklin Resources this week:

• Positive Sentiment: Adjusted earnings were $0.94 per share, above analyst expectations of roughly $0.77–$0.78 and up from $0.67 a year earlier. Revenue of $1.88 billion also topped estimates of $1.86 billion and increased 3.9% year over year. Article: Franklin Templeton Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reports attributed the results to higher revenue, year-over-year growth in assets under management, robust long-term net inflows and lower operating expenses—indicators that support earnings momentum. Article: Franklin Q4 Earnings Beat Estimates on Higher Revenues, AUM Rises Year Over Year

Franklin Resources Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.