Sumitomo Mitsui DS Asset Management Company Ltd Purchases 28,496 Shares of Franklin Resources, Inc. $BEN

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Franklin Resources, Inc. (NYSE:BEN) by 53.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,943 shares of the closed-end fund’s stock after buying an additional 28,496 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Franklin Resources were worth $2,632,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Franklin Resources during the 2nd quarter valued at approximately $961,845,000. Azora Capital LP purchased a new stake in shares of Franklin Resources in the 2nd quarter valued at $229,850,000. Bank of New York Mellon Corp purchased a new stake in shares of Franklin Resources in the 2nd quarter valued at $152,692,000. Kopernik Global Investors LLC increased its stake in shares of Franklin Resources by 4.6% in the first quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund’s stock worth $83,204,000 after acquiring an additional 153,422 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Franklin Resources by 37.3% in the first quarter. Bank of America Corp DE now owns 1,964,424 shares of the closed-end fund’s stock worth $46,400,000 after acquiring an additional 533,192 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Price Performance

NYSE:BEN opened at $31.49 on Friday. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28. The stock has a 50 day moving average of $33.09 and a two-hundred day moving average of $31.99. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The firm has a market cap of $16.00 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Franklin Resources, Inc. will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is presently 89.80%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Franklin Resources from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. JPMorgan Chase & Co. upped their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, October 12th. UBS Group started coverage on Franklin Resources in a research report on Wednesday, October 7th. They set a “buy” rating and a $40.00 price target on the stock. Evercore reiterated an “underperform” rating and set a $35.00 price objective on shares of Franklin Resources in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $34.00 price objective on shares of Franklin Resources in a research note on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.89.

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.