Franklin Resources, Inc. $BEN Stock Holdings Boosted by Inspire Investing LLC

Key Points

• Institutional ownership increased: Inspire Investing boosted its Franklin Resources stake by 312,422.6% to 96,882 shares, while several major institutions—including BlackRock—also established positions. Institutions collectively own 47.56% of BEN.
• Analyst sentiment remains mixed: Franklin Resources has a consensus “Hold” rating and an average price target of $35.89, despite several analysts maintaining or upgrading the stock to “Buy.”
• Financial results and dividend were notable: The company reported quarterly EPS of $0.72, beating estimates by $0.06, while revenue rose 14.3% year over year to $2.36 billion. Franklin Resources also paid a $0.33 quarterly dividend, equivalent to a 4.2% annual yield.

Inspire Investing LLC raised its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 312,422.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,882 shares of the closed-end fund's stock after acquiring an additional 96,851 shares during the quarter. Inspire Investing LLC's holdings in Franklin Resources were worth $3,112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Franklin Resources in the second quarter worth about $961,845,000. Azora Capital LP purchased a new stake in Franklin Resources in the 2nd quarter worth approximately $229,850,000. Bank of New York Mellon Corp purchased a new position in shares of Franklin Resources during the second quarter valued at approximately $152,692,000. Gallagher Fiduciary Advisors LLC bought a new position in shares of Franklin Resources during the second quarter valued at approximately $45,904,000. Finally, Bank of America Corp DE bought a new position in shares of Franklin Resources during the second quarter valued at approximately $41,068,000. 47.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BEN shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Franklin Resources in a research report on Monday, August 31st. TD Cowen decreased their price objective on shares of Franklin Resources from $40.00 to $38.00 and set a "buy" rating for the company in a report on Monday, October 12th. Wall Street Zen raised shares of Franklin Resources from a "hold" rating to a "buy" rating in a research report on Sunday, September 27th. Barclays reaffirmed a "mixed" rating on shares of Franklin Resources in a research note on Wednesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $34.00 price objective on shares of Franklin Resources in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Franklin Resources presently has a consensus rating of "Hold" and a consensus price target of $35.89.

Franklin Resources Stock Performance

Shares of BEN stock opened at $31.06 on Friday. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.55 and a beta of 1.54. 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 one year low of $21.10 and a one year high of $36.28. The company's 50-day moving average is $33.04 and its 200 day moving average is $31.98.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.06. The business had revenue of $2.36 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Sell-side analysts expect that Franklin Resources, Inc. will post 2.91 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

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 4.2%. Franklin Resources's dividend payout ratio (DPR) is 89.80%.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.

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