Corient Private Wealth LP Invests $2.19 Million in Franklin Resources, Inc. $BEN

Key Points

• Corient Private Wealth initiated a $2.19 million position in Franklin Resources, buying 65,815 shares during the second quarter. Institutional investors and hedge funds collectively own 47.56% of the company.
• Analyst sentiment remains mixed, with four Buy, five Hold and two Sell ratings; the consensus rating is Hold with a $32.44 price target. Franklin Resources shares recently opened at $33.05.
• Franklin Resources exceeded quarterly expectations, reporting $0.72 in EPS and $2.36 billion in revenue, with revenue up 14.3% year over year. The company also declared a $0.33 quarterly dividend, equating to a 4.0% annualized yield.

Corient Private Wealth LP bought a new position 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. The institutional investor bought 65,815 shares of the closed-end fund's stock, valued at approximately $2,190,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mariner LLC grew its stake in Franklin Resources by 0.7% during the fourth quarter. Mariner LLC now owns 56,151 shares of the closed-end fund's stock worth $1,341,000 after buying an additional 377 shares during the period. Lido Advisors LLC raised its stake in shares of Franklin Resources by 4.0% in the 1st quarter. Lido Advisors LLC now owns 10,194 shares of the closed-end fund's stock valued at $244,000 after acquiring an additional 395 shares during the period. Zions Bancorporation National Association UT lifted its holdings in shares of Franklin Resources by 35.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,512 shares of the closed-end fund's stock valued at $36,000 after acquiring an additional 396 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Franklin Resources by 12.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,671 shares of the closed-end fund's stock valued at $87,000 after acquiring an additional 400 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in Franklin Resources by 0.6% during the 1st quarter. Sigma Planning Corp now owns 67,747 shares of the closed-end fund's stock worth $1,600,000 after purchasing an additional 407 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen raised Franklin Resources from a "hold" rating to a "buy" rating in a research report on Sunday, June 14th. Barclays upped their target price on Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Zacks Research downgraded Franklin Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Morgan Stanley boosted their price target on Franklin Resources from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.44.

Franklin Resources Stock Performance

Franklin Resources stock opened at $33.05 on Thursday. The stock has a market cap of $16.79 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.54. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $33.70 and a 200-day moving average of $30.13. Franklin Resources, Inc. has a 52 week low of $21.10 and a 52 week high of $36.28.

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

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Franklin Resources's dividend payout ratio (DPR) is currently 89.80%.

Franklin Resources Profile

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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