LifeWealth Investments LLC Takes $254,000 Position in Franklin Resources, Inc. (NYSE:BEN)

LifeWealth Investments LLC acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,211 shares of the closed-end fund's stock, valued at approximately $254,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Franklin Resources by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund's stock valued at $765,254,000 after acquiring an additional 1,095,373 shares during the last quarter. Invesco Ltd. raised its holdings in Franklin Resources by 9.4% in the 4th quarter. Invesco Ltd. now owns 11,721,446 shares of the closed-end fund's stock valued at $237,828,000 after acquiring an additional 1,011,755 shares during the last quarter. ProShare Advisors LLC raised its holdings in Franklin Resources by 19.6% in the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund's stock valued at $190,805,000 after acquiring an additional 1,542,478 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Franklin Resources by 33.1% during the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock valued at $130,645,000 after buying an additional 1,599,849 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Franklin Resources by 8.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,002,950 shares of the closed-end fund's stock worth $121,797,000 after buying an additional 460,270 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Up 0.8%

NYSE:BEN traded up $0.18 on Friday, reaching $22.77. The stock had a trading volume of 7,043,092 shares, compared to its average volume of 4,497,770. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $20.65 and a 200 day moving average of $20.30. The stock has a market cap of $11.97 billion, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 3.05 and a beta of 1.43. Franklin Resources, Inc. has a 12-month low of $16.25 and a 12-month high of $24.37.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.44 billion. Franklin Resources had a net margin of 4.65% and a return on equity of 9.13%. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. On average, research analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a yield of 5.62%. Franklin Resources's payout ratio is currently 188.24%.

Wall Street Analysts Forecast Growth

BEN has been the subject of a number of research analyst reports. Cowen restated a "buy" rating on shares of Franklin Resources in a report on Monday. Barclays upped their price objective on Franklin Resources from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Bank of America dropped their price objective on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Evercore ISI dropped their price objective on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley dropped their price objective on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating for the company in a report on Monday, April 7th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.25.

About Franklin Resources

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.