1,541,934 Shares of Franklin Resources, Inc. $BEN Purchased by Bahl & Gaynor LLC

Key Points

• Bahl & Gaynor LLC bought 1,541,934 Franklin Resources shares in the third quarter, valued at about $49.5 million and representing roughly 0.30% of the company.
• Franklin Resources reported quarterly EPS of $0.94, beating the $0.77 consensus estimate; revenue rose 3.9% year over year to $1.88 billion.
• The company’s quarterly dividend is $0.33 per share, equivalent to a 3.6% annualized yield. Analysts’ consensus rating was “Hold,” with an average price target of $36.78.

Bahl & Gaynor LLC purchased a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,541,934 shares of the closed-end fund's stock, valued at approximately $49,527,000. Bahl & Gaynor LLC owned about 0.30% of Franklin Resources at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. United Community Bank raised its stake in Franklin Resources by 0.9% during the 2nd quarter. United Community Bank now owns 37,849 shares of the closed-end fund's stock worth $1,259,000 after buying an additional 320 shares during the period. Choreo LLC grew its stake in Franklin Resources by 5.0% in the third quarter. Choreo LLC now owns 7,590 shares of the closed-end fund's stock valued at $244,000 after acquiring an additional 360 shares during the period. Empirical Finance LLC grew its stake in Franklin Resources by 3.7% in the second quarter. Empirical Finance LLC now owns 10,783 shares of the closed-end fund's stock valued at $359,000 after acquiring an additional 380 shares during the period. Greenwich Wealth Management LLC grew its stake in Franklin Resources by 0.3% in the second quarter. Greenwich Wealth Management LLC now owns 143,825 shares of the closed-end fund's stock valued at $4,785,000 after acquiring an additional 389 shares during the period. Finally, Caldwell Trust Co increased its holdings in shares of Franklin Resources by 13.0% in the third quarter. Caldwell Trust Co now owns 3,399 shares of the closed-end fund's stock worth $109,000 after acquiring an additional 390 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Up 1.1%

Shares of BEN stock opened at $36.26 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. Franklin Resources, Inc. has a 1 year low of $21.10 and a 1 year high of $36.79. The firm's fifty day moving average price is $32.65 and its two-hundred day moving average price is $30.48. The firm has a market capitalization of $18.42 billion, a P/E ratio of 11.68, a PEG ratio of 0.63 and a beta of 1.56.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.17. Franklin Resources had a net margin of 11.42% and a return on equity of 12.59%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $0.67 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Franklin Resources, Inc. will post 3.22 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.32 annualized dividend and a yield of 3.6%. Franklin Resources's dividend payout ratio is 66.67%.

Franklin Resources News Summary

Here are the key news stories impacting Franklin Resources this week:

• Positive Sentiment: Franklin Templeton raised its fiscal 2029 targets for margins, private markets and ETFs, citing alternative-investment growth and operating efficiency as potential drivers. Article: Franklin Templeton Lifts 2029 Targets
• Positive Sentiment: TD Cowen raised its price target to $44 from $38 and reiterated a “buy” rating, signaling stronger analyst confidence in BEN’s prospects. TD Cowen recommendations
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $38 from $37, while keeping a “market perform” rating. Keefe, Bruyette & Woods recommendations
• Neutral Sentiment: Barclays raised its target to $36 from $34 but maintained an “equal weight” rating, indicating limited conviction in near-term outperformance. Franklin Resources price target raised at Barclays

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BEN shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Franklin Resources in a research note on Monday, August 31st. Barclays lifted their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $38.00 price objective (up from $37.00) on shares of Franklin Resources in a research report on Monday. Finally, UBS Group assumed coverage on shares of Franklin Resources in a report on Wednesday, October 7th. They set a "buy" rating and a $40.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $36.78.

Franklin Resources Profile

Franklin Resources, Inc. is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts. The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.

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