Beverly Hills Private Wealth LLC Takes Position in Franklin Resources, Inc. $BEN

Key Points

• Beverly Hills Private Wealth LLC initiated a position in Franklin Resources by purchasing 50,383 shares valued at approximately $1.68 million. Institutional investors collectively own 47.56% of the company.
• Franklin Resources reported quarterly EPS of $0.72, exceeding analyst expectations of $0.66, while revenue reached $2.36 billion and rose 14.3% year over year.
• The company pays a quarterly dividend of $0.33 per share, equivalent to a 3.9% annualized yield. Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $32.44.

Beverly Hills Private Wealth LLC purchased a new stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,383 shares of the closed-end fund's stock, valued at approximately $1,676,000.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Franklin Resources by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,882,860 shares of the closed-end fund's stock valued at $259,988,000 after purchasing an additional 816,952 shares in the last quarter. Invesco Ltd. raised its stake in shares of Franklin Resources by 8.2% in the 4th quarter. Invesco Ltd. now owns 10,122,937 shares of the closed-end fund's stock valued at $241,837,000 after purchasing an additional 768,707 shares in the last quarter. Geode Capital Management LLC raised its stake in Franklin Resources by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 8,069,495 shares of the closed-end fund's stock valued at $192,774,000 after buying an additional 272,335 shares in the last quarter. ProShare Advisors LLC lifted its stake in Franklin Resources by 3.6% during the fourth quarter. ProShare Advisors LLC now owns 7,083,168 shares of the closed-end fund's stock worth $169,217,000 after purchasing an additional 243,836 shares during the last quarter. Finally, Azora Capital LP lifted its position in shares of Franklin Resources by 78.8% in the 4th quarter. Azora Capital LP now owns 5,796,575 shares of the closed-end fund's stock worth $138,480,000 after buying an additional 2,554,105 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Stock Down 0.0%

Shares of BEN stock opened at $33.86 on Monday. The firm has a market cap of $17.20 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.72 and a beta of 1.55. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28. The stock has a 50 day moving average of $33.26 and a 200-day moving average of $29.46. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. On average, equities analysts predict that Franklin Resources, Inc. will post 2.88 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Franklin Resources's dividend payout ratio is currently 89.80%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BEN shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. Evercore reaffirmed an "underperform" rating and set a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Morgan Stanley lifted their price objective on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Weiss Ratings upgraded Franklin Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Franklin Resources from $30.50 to $34.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $32.44.

About Franklin Resources

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.

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