Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,596,762 shares of the closed-end fund's stock after buying an additional 22,228 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Franklin Resources worth $32,175,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Interval Partners LP raised its stake in shares of Franklin Resources by 0.4% in the second quarter. Interval Partners LP now owns 108,894 shares of the closed-end fund's stock worth $2,434,000 after buying an additional 483 shares during the period. PNC Financial Services Group Inc. raised its stake in Franklin Resources by 0.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund's stock worth $1,402,000 after acquiring an additional 572 shares during the period. State of Michigan Retirement System lifted its holdings in Franklin Resources by 0.7% during the second quarter. State of Michigan Retirement System now owns 88,195 shares of the closed-end fund's stock valued at $1,971,000 after purchasing an additional 600 shares in the last quarter. Gold Investment Management Ltd. boosted its position in shares of Franklin Resources by 2.5% in the second quarter. Gold Investment Management Ltd. now owns 26,032 shares of the closed-end fund's stock worth $582,000 after purchasing an additional 644 shares during the period. Finally, Whitener Capital Management Inc. increased its stake in shares of Franklin Resources by 3.8% in the second quarter. Whitener Capital Management Inc. now owns 22,149 shares of the closed-end fund's stock worth $495,000 after purchasing an additional 820 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BEN shares. TD Cowen lowered their target price on shares of Franklin Resources from $20.00 to $18.50 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on Franklin Resources from $23.75 to $21.25 and set a "sell" rating for the company in a research note on Monday, September 30th. Barclays decreased their target price on Franklin Resources from $20.00 to $19.00 and set an "underweight" rating on the stock in a research note on Monday, October 14th. UBS Group dropped their price target on Franklin Resources from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Franklin Resources from $19.00 to $19.50 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of "Hold" and an average target price of $20.20.

Insider Transactions at Franklin Resources

In other news, insider Franklin Resources Inc sold 7,900 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $43.71, for a total value of $345,309.00. Following the completion of the sale, the insider now owns 36,519 shares of the company's stock, valued at approximately $1,596,245.49. This represents a 17.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Charles B. Johnson bought 100,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $19.08 per share, with a total value of $1,908,000.00. Following the acquisition, the insider now owns 89,308,192 shares of the company's stock, valued at $1,704,000,303.36. This trade represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 24,024 shares of company stock valued at $1,051,375. 24.13% of the stock is currently owned by corporate insiders.

Franklin Resources Trading Down 1.2 %

BEN stock traded down $0.27 during midday trading on Thursday, reaching $22.41. The company's stock had a trading volume of 4,581,130 shares, compared to its average volume of 4,024,009. Franklin Resources, Inc. has a 1 year low of $18.94 and a 1 year high of $30.32. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 2.43 and a beta of 1.39. The stock has a fifty day simple moving average of $21.04 and a two-hundred day simple moving average of $21.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $1.70 billion. Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The business's revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. On average, equities research analysts predict that Franklin Resources, Inc. will post 2.39 EPS for the current year.

Franklin Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be given a dividend of $0.32 per share. This is an increase from Franklin Resources's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.71%. Franklin Resources's dividend payout ratio is presently 144.19%.

About Franklin Resources

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.