Kopernik Global Investors LLC Purchases 153,422 Shares of Franklin Resources, Inc. $BEN

Kopernik Global Investors LLC lifted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,522,587 shares of the closed-end fund’s stock after purchasing an additional 153,422 shares during the period. Franklin Resources comprises 5.8% of Kopernik Global Investors LLC’s investment portfolio, making the stock its 6th largest holding. Kopernik Global Investors LLC owned approximately 0.68% of Franklin Resources worth $83,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Franklin Resources by 26.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,049 shares of the closed-end fund’s stock valued at $2,850,000 after buying an additional 30,763 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Franklin Resources by 169.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,909 shares of the closed-end fund’s stock worth $152,000 after acquiring an additional 4,972 shares during the last quarter. Woodline Partners LP increased its position in Franklin Resources by 41.1% in the 1st quarter. Woodline Partners LP now owns 26,189 shares of the closed-end fund’s stock valued at $504,000 after acquiring an additional 7,634 shares during the period. Federated Hermes Inc. acquired a new position in Franklin Resources in the 2nd quarter valued at approximately $169,000. Finally, California Public Employees Retirement System raised its stake in shares of Franklin Resources by 52.2% during the second quarter. California Public Employees Retirement System now owns 509,171 shares of the closed-end fund’s stock valued at $12,144,000 after acquiring an additional 174,579 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Performance

Shares of BEN opened at $32.40 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a 50-day moving average of $32.45 and a 200-day moving average of $28.46. The company has a market cap of $16.84 billion, a PE ratio of 24.74, a P/E/G ratio of 0.72 and a beta of 1.54. Franklin Resources, Inc. has a one year low of $21.10 and a one year high of $34.92.

Franklin Resources (NYSE:BEN) last issued its earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.70 billion. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. On average, equities research analysts predict that Franklin Resources, Inc. will post 2.81 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, June 29th. Franklin Resources’s dividend payout ratio is presently 100.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Barclays increased their price objective on Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Zacks Research raised Franklin Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. The Goldman Sachs Group lifted their target price on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Franklin Resources Company Profile

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.