Empowered Funds LLC Invests $8.76 Million in Franklin Resources, Inc. $BEN

Key Points

• Empowered Funds LLC purchased 263,326 Franklin Resources shares worth approximately $8.76 million, while institutional investors and hedge funds collectively own 47.56% of the company.
• Franklin Resources reported quarterly earnings of $0.72 per share, beating estimates by $0.06, while revenue rose 14.3% year over year to $2.36 billion.
• The company declared a quarterly dividend of $0.33 per share, equivalent to a 3.8% annualized yield. Analysts maintain a consensus “Hold” rating with a $32.44 target price.

Empowered Funds LLC purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 263,326 shares of the closed-end fund's stock, valued at approximately $8,761,000. Empowered Funds LLC owned 0.05% of Franklin Resources at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Danske Bank A S bought a new stake in Franklin Resources during the 4th quarter worth approximately $26,000. Motiv8 Investments LLC bought a new stake in Franklin Resources during the fourth quarter worth $28,000. Leonteq Securities AG purchased a new position in shares of Franklin Resources in the 4th quarter worth about $30,000. Atlas Capital Advisors Inc. bought a new position in Franklin Resources during the fourth quarter valued at about $32,000. Finally, Larson Financial Group LLC increased its holdings in Franklin Resources by 48.1% during the fourth quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund's stock worth $33,000 after buying an additional 452 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $34.70 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. Franklin Resources, Inc. has a 52-week low of $21.10 and a 52-week high of $36.28. The company has a fifty day moving average of $33.69 and a 200-day moving average of $29.99. The stock has a market capitalization of $17.63 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55.

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

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.32 annualized dividend and a yield of 3.8%. Franklin Resources's dividend payout ratio is currently 89.80%.

Analyst Ratings Changes

BEN has been the topic of several research reports. Weiss Ratings upgraded Franklin Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Barclays lifted their price objective on Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $34.00 price objective on shares of Franklin Resources in a report on Monday, August 3rd. Evercore reiterated an "underperform" rating and set a $35.00 target price on shares of Franklin Resources in a research report on Friday, July 10th. Finally, Zacks Research downgraded shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Franklin Resources has an average rating of "Hold" and a consensus target price 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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