HF Advisory Group LLC Makes New Investment in Franklin Resources, Inc. $BEN

Key Points

• HF Advisory Group LLC acquired 77,833 Franklin Resources shares worth approximately $2.5 million during the third quarter. Institutional investors and hedge funds collectively own 47.56% of the company.
• Franklin Resources reported quarterly EPS of $0.72, beating estimates of $0.66, while revenue rose 14.3% year over year to $2.36 billion. Analysts project full-year EPS of $2.91.
• The company pays a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 dividend and a 4.1% yield. BEN shares opened at $31.98, below the analyst consensus price target of $35.89, with an overall “Hold” rating.

HF Advisory Group LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 77,833 shares of the closed-end fund's stock, valued at approximately $2,500,000.

A number of other hedge funds have also made changes to their positions in the company. United Community Bank raised its stake in shares of Franklin Resources by 0.9% in the second quarter. United Community Bank now owns 37,849 shares of the closed-end fund's stock valued at $1,259,000 after acquiring an additional 320 shares during the last quarter. Empirical Finance LLC raised its position in Franklin Resources by 3.7% in the 2nd quarter. Empirical Finance LLC now owns 10,783 shares of the closed-end fund's stock valued at $359,000 after purchasing an additional 380 shares during the last quarter. Greenwich Wealth Management LLC boosted its stake in Franklin Resources by 0.3% in the second quarter. Greenwich Wealth Management LLC now owns 143,825 shares of the closed-end fund's stock worth $4,785,000 after purchasing an additional 389 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Franklin Resources by 4.0% during the first quarter. Lido Advisors LLC now owns 10,194 shares of the closed-end fund's stock worth $244,000 after purchasing an additional 395 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Franklin Resources by 12.2% during the first quarter. Geneos Wealth Management Inc. now owns 3,671 shares of the closed-end fund's stock worth $87,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Trading Down 1.3%

NYSE BEN opened at $31.98 on Friday. The stock has a 50-day simple moving average of $33.63 and a 200 day simple moving average of $31.44. The company has a market capitalization of $16.25 billion, a PE ratio of 21.76, a P/E/G ratio of 0.57 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. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28.

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 analysts' consensus estimates of $0.66 by $0.06. The firm had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. The company's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. Research analysts forecast that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.1%. Franklin Resources's dividend payout ratio (DPR) is currently 89.80%.

Analyst Ratings Changes

BEN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. UBS Group initiated coverage on shares of Franklin Resources in a research report on Wednesday. They issued a "buy" rating and a $40.00 price objective for the company. Wall Street Zen raised shares of Franklin Resources from a "hold" rating to a "buy" rating in a research note on Sunday, September 27th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Franklin Resources in a research note on Monday, August 31st. Finally, Zacks Research cut Franklin Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $35.89.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.

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