Robeco Institutional Asset Management B.V. Increases Stake in Franklin Resources, Inc.

Robeco Institutional Asset Management B.V. has significantly increased its investment in Franklin Resources, Inc. (NYSE:BEN) by 315.2% during the third quarter. This information comes from the firm’s latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 410,286 shares during this period, they now hold a total of 540,465 shares. As of the latest SEC report, Robeco Institutional Asset Management B.V. owns about 0.10% of the total shares of Franklin Resources, which equates to a value of approximately $10,890,000.

Several other institutional investors have also made moves regarding their stakes in Franklin Resources. For example, Whitener Capital Management Inc. raised its ownership by 7.8% in the third quarter, now holding 23,867 shares valued at $481,000 after purchasing an additional 1,718 shares. Likewise, Janney Montgomery Scott LLC grew its stake by 9.0%, owning 491,815 shares worth $9,910,000 after acquiring 40,800 more shares during the last quarter. Stephens Inc. AR increased their position in Franklin Resources by 34.0%, now owning 15,646 shares valued at $315,000 after buying 3,973 shares. Another firm, Baron Silver Stevens Financial Advisors LLC, entered the fray by purchasing new shares worth about $212,000. AustralianSuper Pty Ltd also raised its stake by 119.9%, now holding 641,629 shares valued at $12,929,000 after buying 349,820 shares. Overall, institutional investors now control 47.56% of Franklin Resources' stock.

Franklin Resources Stock Performance

On Friday, Franklin Resources stock opened at $21.29. The company has a market capitalization of $11.13 billion and displays a price-to-earnings ratio of 24.76, a PEG ratio of 2.71, and a beta of 1.38. The 50-day simple moving average is $20.25, while the 200-day average is $21.95. Franklin Resources has a debt-to-equity ratio of 0.93, and both its current and quick ratios stand at 1.71. Over the past year, the stock has seen a low of $18.94 and a high of $30.32.

For the latest quarterly earnings, Franklin Resources announced results on November 4th. The company reported earnings per share (EPS) of $0.59 for the quarter, which fell short of the analysts' expected EPS of $0.60 by $0.01. The firm reported a return on equity of 9.61% and a net margin of 5.48%. Revenue for the quarter was $2.21 billion, surpassing expectations of $1.70 billion, and represented an 11.3% increase compared to the same quarter last year.

Dividend Announcement

The company recently declared a quarterly dividend of $0.31, which was paid on October 11th. Shareholders of record as of September 30th received this payout. The annualized dividend is approximately $1.24, yielding about 5.82%. The ex-dividend date was September 30th. Presently, the payout ratio for Franklin Resources stands at 144.19%.

Analyst Opinions

Recent evaluations from research analysts have varied. TD Cowen reduced its price target for Franklin Resources from $20.00 to $18.50 and rated it as a “hold” in their recent report. Conversely, Wells Fargo & Company raised their target price from $19.00 to $19.50, granting the stock an “equal weight” rating. Morgan Stanley decreased their price target from $21.00 to $19.00, designating it as “underweight.” Similarly, JPMorgan Chase & Co. lowered their price target from $22.00 to $21.00, maintaining a “neutral” rating. StockNews.com also changed its rating for Franklin Resources from “hold” to “sell.” In total, six analysts have rated the stock as a “sell,” while six others deem it a “hold.” An aggregate of analyst ratings indicates a consensus rating of “Hold,” with an average price target of $20.20.

Insider Trading Activity

In recent insider news, an insider from Franklin Resources Inc. sold 7,900 shares on October 18th, valued at $345,309. Post-transaction, the insider's remaining holdings totaled 36,519 shares worth approximately $1,596,245. Additionally, CEO Jennifer M. Johnson acquired 12,700 shares on August 28th at an average of $19.66 each, amounting to a total of $249,682. Following this transaction, she now possesses 2,637,700 shares valued at about $51,857,182. This sale marked a negligible decrease in the insider's position. In summary, insiders purchased 231,600 shares worth $4,537,637 over the last quarter while selling 24,024 shares valued at $1,051,375. Currently, corporate insiders own about 24.13% of the company's stock.

About Franklin Resources

Franklin Resources, Inc. is a publicly traded asset management holding company. The company operates through its subsidiaries, offering a range of investment services to individuals, institutions, pension plans, trusts, and partnerships. Franklin Resources creates various types of mutual funds, including equity, fixed income, balanced, and multi-asset funds.

investment, stock, finance