Franklin Resources, Inc. $BEN Shares Bought by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Franklin Resources stake by 1,004.6% in the third quarter, adding 970,103 shares to reach 1,066,671 shares, valued at about $34.9 million.
• Franklin Resources reported quarterly adjusted earnings of $0.94 per share and revenue of $1.88 billion, beating analyst estimates; revenue rose 3.9% year over year.
• Analysts’ average rating is Hold, with an average price target of $35.89. The company’s quarterly dividend is $0.33 per share, equivalent to a 3.9% annualized yield.

Fulcrum Asset Management LLP raised its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 1,004.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,066,671 shares of the closed-end fund's stock after purchasing an additional 970,103 shares during the quarter. Franklin Resources makes up about 1.6% of Fulcrum Asset Management LLP's holdings, making the stock its 7th biggest holding. Fulcrum Asset Management LLP owned about 0.21% of Franklin Resources worth $34,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Franklin Resources by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,680 shares of the closed-end fund's stock worth $802,000 after purchasing an additional 2,352 shares during the period. Beverly Hills Private Wealth LLC increased its position in shares of Franklin Resources by 36.0% during the third quarter. Beverly Hills Private Wealth LLC now owns 68,541 shares of the closed-end fund's stock valued at $2,202,000 after buying an additional 18,158 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Franklin Resources during the third quarter valued at about $35,000. Shepherd Financial Partners LLC bought a new position in Franklin Resources in the third quarter worth about $248,000. Finally, Brighton Jones LLC raised its stake in Franklin Resources by 115.4% in the third quarter. Brighton Jones LLC now owns 37,254 shares of the closed-end fund's stock worth $1,197,000 after buying an additional 19,960 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research cut Franklin Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $34.00 target price on shares of Franklin Resources in a report on Monday, August 3rd. Wall Street Zen lowered Franklin Resources from a "buy" rating to a "hold" rating in a research report on Saturday, October 31st. Barclays restated a "mixed" rating on shares of Franklin Resources in a research note on Wednesday, October 14th. Finally, TD Cowen dropped their price target on Franklin Resources from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.89.

Key Headlines Impacting Franklin Resources

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

• Positive Sentiment: Adjusted earnings were $0.94 per share, above analyst expectations of roughly $0.77–$0.78 and up from $0.67 a year earlier. Revenue of $1.88 billion also topped estimates of $1.86 billion and increased 3.9% year over year. Article: Franklin Templeton Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reports attributed the results to higher revenue, year-over-year growth in assets under management, robust long-term net inflows and lower operating expenses—indicators that support earnings momentum. Article: Franklin Q4 Earnings Beat Estimates on Higher Revenues, AUM Rises Year Over Year

Franklin Resources Stock Performance

Shares of Franklin Resources stock opened at $33.84 on Monday. Franklin Resources, Inc. has a 1 year low of $21.10 and a 1 year high of $36.28. The firm's 50-day moving average is $32.58 and its 200 day moving average is $30.38. The stock has a market cap of $17.19 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.60 and a beta of 1.56. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.17. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. Franklin Resources had a net margin of 11.42% and a return on equity of 12.59%. Franklin Resources's revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. Sell-side analysts anticipate that Franklin Resources, Inc. will post 3.20 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company 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 dividend yield of 3.9%. Franklin Resources's dividend payout ratio (DPR) is 66.67%.

About Franklin Resources

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.

Founded in 1947, Franklin Resources has grown through acquisitions, including its 2020 acquisition of Legg Mason.

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