Axa S.A. Buys 252,309 Shares of Franklin Resources, Inc. (NYSE:BEN)

Axa S.A. raised its stake in Franklin Resources, Inc. (NYSE:BEN) by 132.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,255 shares of the closed-end fund’s stock after acquiring an additional 252,309 shares during the period. Axa S.A. owned approximately 0.08% of Franklin Resources worth $9,884,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BEN. Altshuler Shaham Ltd acquired a new position in Franklin Resources in the second quarter valued at about $27,000. Sentry Investment Management LLC bought a new stake in shares of Franklin Resources during the 2nd quarter worth approximately $30,000. Headlands Technologies LLC acquired a new stake in shares of Franklin Resources during the 1st quarter worth approximately $32,000. Denali Advisors LLC bought a new position in Franklin Resources in the first quarter valued at approximately $44,000. Finally, Trust Co. of Vermont acquired a new position in Franklin Resources during the fourth quarter valued at approximately $45,000. 47.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Franklin Resources news, CEO Jennifer M. Johnson acquired 18,900 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the purchase, the chief executive officer now owns 216,900 shares of the company’s stock, valued at $4,544,055. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer M. Johnson purchased 12,700 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the purchase, the chief executive officer now owns 2,637,700 shares of the company’s stock, valued at $51,857,182. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer M. Johnson acquired 18,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the purchase, the chief executive officer now owns 216,900 shares of the company’s stock, valued at $4,544,055. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 231,600 shares of company stock worth $4,537,637. Corporate insiders own 24.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BEN. TD Cowen lifted their price target on Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Evercore ISI lowered their target price on Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Barclays assumed coverage on shares of Franklin Resources in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $20.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Franklin Resources in a research report on Thursday, September 12th. They set an “equal weight” rating and a $20.00 price objective for the company. Finally, UBS Group cut their target price on shares of Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.00.

Franklin Resources Stock Up 0.7 %

Franklin Resources stock opened at $20.80 on Friday. The firm has a 50 day moving average price of $21.24 and a two-hundred day moving average price of $23.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71. Franklin Resources, Inc. has a 52-week low of $18.94 and a 52-week high of $30.32. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 2.62 and a beta of 1.39.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. Equities analysts predict that Franklin Resources, Inc. will post 2.41 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.96%. Franklin Resources’s dividend payout ratio (DPR) is presently 70.86%.

Franklin Resources Company 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.