Allianz Asset Management GmbH Acquires 252,877 Shares of Franklin Resources, Inc. $BEN

Allianz Asset Management GmbH increased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 36.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 938,353 shares of the closed-end fund’s stock after purchasing an additional 252,877 shares during the period. Allianz Asset Management GmbH’s holdings in Franklin Resources were worth $21,704,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its position in Franklin Resources by 55.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,101 shares of the closed-end fund’s stock worth $766,000 after purchasing an additional 11,432 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Franklin Resources during the third quarter worth $1,328,000. United Community Bank grew its holdings in shares of Franklin Resources by 172.1% during the third quarter. United Community Bank now owns 34,069 shares of the closed-end fund’s stock valued at $788,000 after buying an additional 21,547 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Franklin Resources in the 3rd quarter valued at $522,000. Finally, AlphaQuest LLC raised its stake in Franklin Resources by 34,715.9% in the 3rd quarter. AlphaQuest LLC now owns 89,825 shares of the closed-end fund’s stock worth $2,078,000 after acquiring an additional 89,567 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore increased their price objective on Franklin Resources from $26.00 to $28.00 and gave the company an “underperform” rating in a report on Monday, February 2nd. Barclays increased their price target on shares of Franklin Resources from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Thursday, January 15th. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Morgan Stanley increased their price objective on shares of Franklin Resources from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, TD Cowen reissued a “hold” rating on shares of Franklin Resources in a report on Monday. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Franklin Resources presently has an average rating of “Reduce” and a consensus price target of $25.89.

Franklin Resources Trading Up 1.2%

Franklin Resources stock opened at $27.24 on Friday. The firm has a market cap of $14.19 billion, a PE ratio of 25.22, a P/E/G ratio of 0.86 and a beta of 1.46. Franklin Resources, Inc. has a 12 month low of $16.25 and a 12 month high of $27.94. The stock’s 50 day simple moving average is $24.76 and its two-hundred day simple moving average is $24.12. The company has a current ratio of 1.86, a quick ratio of 1.40 and a debt-to-equity ratio of 1.01.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.15. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. Analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.8%. Franklin Resources’s dividend payout ratio (DPR) is 122.22%.

Franklin Resources Company Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.