NFSG Corp Buys New Position in Franklin Resources, Inc. $BEN

Key Points

• NFSG Corp. purchased 50,776 Franklin Resources shares during the third quarter, valued at approximately $1.63 million. Institutional investors collectively own 47.56% of BEN stock.
• Franklin Resources reported quarterly EPS of $0.72, exceeding estimates of $0.66, while revenue rose 14.3% year over year to $2.36 billion. The company also pays a quarterly dividend of $0.33, representing a 4.2% annualized yield.
• Analysts maintain a generally cautious view, with the stock carrying an average “Hold” rating and a $35.89 price target; BEN recently opened at $31.36.

NFSG Corp bought a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 50,776 shares of the closed-end fund's stock, valued at approximately $1,631,000.

Several other institutional investors also recently added to or reduced their stakes in BEN. First Community Trust NA acquired a new position in shares of Franklin Resources during the third quarter worth approximately $25,000. Compass Financial Management LLC acquired a new stake in shares of Franklin Resources in the second quarter worth $36,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Franklin Resources in the third quarter worth $35,000. Elevation Wealth Partners LLC grew its stake in shares of Franklin Resources by 179.2% in the third quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund's stock worth $39,000 after acquiring an additional 758 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Franklin Resources by 209.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund's stock worth $39,000 after acquiring an additional 813 shares during the period. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

BEN opened at $31.36 on Friday. The stock has a market cap of $15.94 billion, a PE ratio of 21.34, a P/E/G ratio of 0.54 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 1 year low of $21.10 and a 1 year high of $36.28. The stock's 50 day simple moving average is $33.33 and its 200-day simple moving average is $31.71.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. The firm had revenue of $2.36 billion during 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%. During the same period last year, the business earned $0.49 earnings per share. Franklin Resources's quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side 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. Shareholders of record on Wednesday, September 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources's payout ratio is 89.80%.

Analysts Set New Price Targets

Several equities analysts recently commented on BEN shares. Barclays reiterated a "mixed" rating on shares of Franklin Resources in a research note on Wednesday. Evercore restated an "underperform" rating and issued a $35.00 price target on shares of Franklin Resources in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a research report on Monday, August 3rd. UBS Group started coverage on shares of Franklin Resources in a report on Wednesday, October 7th. They set a "buy" rating and a $40.00 price objective on the stock. Finally, Wall Street Zen raised shares of Franklin Resources from a "hold" rating to a "buy" rating in a research report on Sunday, September 27th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Franklin Resources presently has an average rating of "Hold" and an average target price of $35.89.

Franklin Resources 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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