Robeco Institutional Asset Management B.V. Raises Holdings in Franklin Resources, Inc. (NYSE:BEN)

Robeco Institutional Asset Management B.V. lifted its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 315.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 540,465 shares of the closed-end fund's stock after buying an additional 410,286 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Franklin Resources worth $10,890,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Whitener Capital Management Inc. boosted its holdings in Franklin Resources by 7.8% in the 3rd quarter. Whitener Capital Management Inc. now owns 23,867 shares of the closed-end fund's stock valued at $481,000 after purchasing an additional 1,718 shares during the period. Janney Montgomery Scott LLC boosted its stake in Franklin Resources by 9.0% during the third quarter. Janney Montgomery Scott LLC now owns 491,815 shares of the closed-end fund's stock valued at $9,910,000 after buying an additional 40,800 shares during the period. Stephens Inc. AR grew its position in Franklin Resources by 34.0% during the third quarter. Stephens Inc. AR now owns 15,646 shares of the closed-end fund's stock worth $315,000 after buying an additional 3,973 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC bought a new position in Franklin Resources in the 3rd quarter worth about $212,000. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Franklin Resources by 119.9% in the 3rd quarter. AustralianSuper Pty Ltd now owns 641,629 shares of the closed-end fund's stock valued at $12,929,000 after acquiring an additional 349,820 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Stock Performance

Shares of NYSE BEN traded down $0.19 during midday trading on Friday, hitting $21.10. 1,268,575 shares of the company's stock traded hands, compared to its average volume of 4,041,700. The firm has a fifty day moving average of $20.25 and a 200 day moving average of $21.95. Franklin Resources, Inc. has a 1 year low of $18.94 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.61% and a net margin of 5.48%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. On average, analysts forecast that Franklin Resources, Inc. will post 2.53 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Monday, September 30th. Franklin Resources's dividend payout ratio is currently 144.19%.

Insider Buying and Selling

In other Franklin Resources news, insider Franklin Resources Inc sold 7,900 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $43.71, for a total transaction of $345,309.00. Following the completion of the transaction, the insider now owns 36,519 shares of the company's stock, valued at $1,596,245.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jennifer M. Johnson purchased 18,900 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $20.95 per share, for a total transaction of $395,955.00. Following the acquisition, the chief executive officer now owns 216,900 shares of the company's stock, valued at approximately $4,544,055. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Franklin Resources Inc sold 7,900 shares of Franklin Resources stock in a transaction dated 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 transaction, the insider now owns 36,519 shares in the company, valued at $1,596,245.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 231,600 shares of company stock valued at $4,537,637 and have sold 24,024 shares valued at $1,051,375. 24.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $19.00 target price (down from $20.00) on shares of Franklin Resources in a research note on Tuesday. The Goldman Sachs Group cut their target price on shares of Franklin Resources from $23.75 to $21.25 and set a "sell" rating for the company in a research report on Monday, September 30th. Morgan Stanley cut their price objective on Franklin Resources from $21.00 to $19.00 and set an "underweight" rating for the company in a report on Friday, October 18th. UBS Group cut their target price 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, JPMorgan Chase & Co. lowered their price objective on Franklin Resources from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.20.

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.