Franklin Resources, Inc. $BEN Position Increased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Franklin Resources stake by 7.5% in the second quarter, bringing its holdings to 546,393 shares valued at approximately $18.2 million. Institutional investors collectively own 47.56% of the company.
• Franklin Resources reported stronger-than-expected quarterly results, with earnings of $0.72 per share versus $0.66 expected and revenue of $2.36 billion, up 14.3% year over year.
• The company declared a quarterly dividend of $0.33 per share, implying an annualized yield of about 4.0%. Analysts remain broadly neutral, with an average “Hold” rating and a $33 price target.

Envestnet Portfolio Solutions Inc. grew its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,393 shares of the closed-end fund's stock after buying an additional 38,122 shares during the quarter. Envestnet Portfolio Solutions Inc. owned approximately 0.11% of Franklin Resources worth $18,178,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Leonteq Securities AG acquired a new stake in Franklin Resources during the 4th quarter valued at $30,000. Larson Financial Group LLC boosted its position in shares of Franklin Resources by 48.1% in 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 period. Hilton Head Capital Partners LLC purchased a new position in shares of Franklin Resources during the fourth quarter valued at $36,000. Compass Financial Management LLC acquired a new position in Franklin Resources during the second quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC raised its position in Franklin Resources by 39.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,837 shares of the closed-end fund's stock valued at $44,000 after buying an additional 524 shares during the period. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Price Performance

Shares of NYSE:BEN opened at $32.69 on Thursday. The business has a 50 day moving average price of $33.71 and a 200 day moving average price of $30.81. Franklin Resources, Inc. has a twelve month low of $21.10 and a twelve month high of $36.28. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 0.66 and a beta of 1.54. 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 issued its quarterly earnings results 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. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts predict that Franklin Resources, Inc. will post 2.89 earnings per share 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 paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, September 30th. Franklin Resources's dividend payout ratio (DPR) is presently 89.80%.

Analyst Ratings Changes

A number of equities research analysts have commented on BEN shares. Morgan Stanley raised their price objective 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. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a research report on Monday, August 3rd. Barclays lifted their price objective on Franklin Resources from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Zacks Research lowered shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Evercore reiterated an "underperform" rating and set a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $33.00.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement plans through a broad range of strategies and investment vehicles.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investments. Franklin Templeton manages strategies across equities, fixed income, multi-asset portfolios, alternatives and other specialized areas, while also providing investment research, portfolio management and wealth-management services.

Founded in 1947 by Rupert H.

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