16,284 Shares in Franklin Resources, Inc. $BEN Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC invested approximately $313,000 in Franklin Resources, Inc. by purchasing 16,284 shares during the first quarter.
• The company recently declared a quarterly dividend of $0.32, which reflects a yield of 5.2% and suggests a high payout ratio of 250.98%.
• Franklin Resources reported Q2 earnings of $0.49 EPS, exceeding analysts' expectations, but its revenue declined by 2.2% year-over-year.

MBB Public Markets I LLC bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,284 shares of the closed-end fund's stock, valued at approximately $313,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC increased its position in Franklin Resources by 147.1% during the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock worth $25,000 after acquiring an additional 737 shares during the period. Manchester Capital Management LLC boosted its stake in Franklin Resources by 49.9% during the first quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund's stock worth $32,000 after buying an additional 555 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in Franklin Resources during the first quarter worth $46,000. Signaturefd LLC boosted its stake in Franklin Resources by 39.4% during the first quarter. Signaturefd LLC now owns 2,592 shares of the closed-end fund's stock worth $50,000 after buying an additional 732 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in Franklin Resources by 78.3% during the first quarter. Brooklyn Investment Group now owns 3,139 shares of the closed-end fund's stock worth $60,000 after buying an additional 1,378 shares in the last quarter. Institutional investors own 47.56% of the company's stock.

Franklin Resources Trading Down 0.9%

Franklin Resources stock traded down $0.22 during trading hours on Friday, reaching $24.65. 3,034,050 shares of the company's stock traded hands, compared to its average volume of 3,416,089. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.55 and a current ratio of 1.55. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $26.08. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 1.44 and a beta of 1.51. The firm's 50 day moving average is $24.94 and its 200-day moving average is $22.04.

Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, August 1st. The closed-end fund reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Franklin Resources had a net margin of 3.73% and a return on equity of 8.76%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the company posted $0.60 EPS. The company's revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.2%. Franklin Resources's dividend payout ratio is 250.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Cowen reiterated a "buy" rating on shares of Franklin Resources in a research note on Monday, June 16th. JPMorgan Chase & Co. lifted their price target on shares of Franklin Resources from $22.00 to $29.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Morgan Stanley lifted their price target on shares of Franklin Resources from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group upgraded shares of Franklin Resources from a "neutral" rating to a "buy" rating and set a $29.00 price target on the stock in a research note on Friday, June 27th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Franklin Resources presently has a consensus rating of "Reduce" and an average price target of $23.58.

Franklin Resources Profile

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.