Brevan Howard Capital Management LP Has $343,000 Holdings in Franklin Resources, Inc. (NYSE:BEN)

Brevan Howard Capital Management LP decreased its position in Franklin Resources, Inc. (NYSE:BEN) by 64.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,882 shares of the closed-end fund’s stock after selling 31,142 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Franklin Resources were worth $343,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BEN. Envestnet Asset Management Inc. increased its position in Franklin Resources by 230.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 291,821 shares of the closed-end fund’s stock worth $5,921,000 after buying an additional 203,414 shares during the period. Twelve Points Wealth Management LLC increased its position in Franklin Resources by 20.5% during the fourth quarter. Twelve Points Wealth Management LLC now owns 159,738 shares of the closed-end fund’s stock worth $3,241,000 after acquiring an additional 27,169 shares during the period. PNC Financial Services Group Inc. raised its stake in Franklin Resources by 34.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 93,789 shares of the closed-end fund’s stock worth $1,903,000 after purchasing an additional 24,204 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Franklin Resources by 139.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 29,829 shares of the closed-end fund’s stock valued at $605,000 after purchasing an additional 17,376 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of Franklin Resources by 5.3% during the 4th quarter. Sound Income Strategies LLC now owns 543,875 shares of the closed-end fund’s stock worth $11,035,000 after purchasing an additional 27,607 shares in the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Franklin Resources from $18.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company upped their target price on Franklin Resources from $20.00 to $21.50 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Cowen reaffirmed a “hold” rating on shares of Franklin Resources in a research note on Monday, May 5th. Evercore ISI reduced their price objective on shares of Franklin Resources from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, April 11th. Finally, Barclays boosted their target price on shares of Franklin Resources from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, Franklin Resources presently has an average rating of “Hold” and a consensus target price of $19.46.

Franklin Resources Trading Up 0.5 %

NYSE BEN opened at $20.94 on Friday. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. Franklin Resources, Inc. has a twelve month low of $16.25 and a twelve month high of $24.86. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average is $19.01 and its 200 day moving average is $20.20.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. As a group, sell-side analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

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.