Squarepoint Ops LLC Boosts Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Squarepoint Ops LLC boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 325.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 906,270 shares of the closed-end fund’s stock after buying an additional 693,074 shares during the period. Squarepoint Ops LLC owned 0.17% of Franklin Resources worth $20,255,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Franklin Resources during the 2nd quarter worth approximately $27,000. Sentry Investment Management LLC purchased a new stake in shares of Franklin Resources in the second quarter valued at approximately $30,000. Headlands Technologies LLC purchased a new stake in shares of Franklin Resources in the first quarter valued at approximately $32,000. Denali Advisors LLC purchased a new stake in shares of Franklin Resources in the first quarter valued at approximately $44,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $45,000. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Charles B. Johnson purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $19.08 per share, for a total transaction of $1,908,000.00. Following the completion of the purchase, the insider now directly owns 89,308,192 shares of the company’s stock, valued at $1,704,000,303.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jennifer M. Johnson acquired 18,900 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $20.95 per share, with a total value of $395,955.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Charles B. Johnson acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $19.08 per share, for a total transaction of $1,908,000.00. Following the transaction, the insider now directly owns 89,308,192 shares of the company’s stock, valued at approximately $1,704,000,303.36. The disclosure for this purchase can be found here. Insiders have bought 231,600 shares of company stock worth $4,537,637 over the last ninety days. Corporate insiders own 24.13% of the company’s stock.

Franklin Resources Stock Up 0.2 %

NYSE:BEN opened at $20.65 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average is $21.30 and its two-hundred day moving average is $23.33. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.62 and a beta of 1.39.

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

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Monday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is 70.86%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BEN. Evercore ISI dropped their price target on Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. TD Cowen upped their price target on Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Barclays began coverage on Franklin Resources in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $23.00 price target on shares of Franklin Resources in a research report on Thursday, August 22nd. Finally, BMO Capital Markets decreased their price objective on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Franklin Resources presently has an average rating of “Hold” and a consensus target price of $23.00.

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.