Axa S.A. raised its stake in Franklin Resources, Inc. (NYSE:BEN – Free Report) 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
Get Our Latest Stock Analysis on Franklin Resources
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 – Get Free Report) 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.
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