Revisor Wealth Management LLC Takes $313,000 Position in Franklin Resources, Inc. (NYSE:BEN)

Revisor Wealth Management LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,022 shares of the closed-end fund's stock, valued at approximately $313,000.

Other large investors have also modified their holdings of the company. CoreCap Advisors LLC boosted its holdings in Franklin Resources by 147.1% in the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after purchasing an additional 737 shares during the period. GeoWealth Management LLC increased its holdings in Franklin Resources by 350.4% during the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock worth $26,000 after purchasing an additional 981 shares during the period. Smartleaf Asset Management LLC raised its position in Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after purchasing an additional 505 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Franklin Resources in the 4th quarter valued at about $34,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Franklin Resources during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Price Performance

Shares of NYSE BEN traded down $0.04 during midday trading on Friday, hitting $24.75. The company had a trading volume of 2,467,095 shares, compared to its average volume of 4,526,125. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 3.36 and a beta of 1.45. Franklin Resources, Inc. has a twelve month low of $16.25 and a twelve month high of $24.94. The business has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $20.40. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.93.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.56 EPS. Equities research analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a $0.32 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.28 annualized dividend and a yield of 5.17%. Franklin Resources's dividend payout ratio (DPR) is presently 188.24%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America cut their price target on shares of Franklin Resources from $20.00 to $17.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. TD Cowen raised Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a report on Wednesday, May 14th. Morgan Stanley boosted their target price on Franklin Resources from $14.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday. Barclays upped their target price on Franklin Resources from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group raised Franklin Resources from a "neutral" rating to a "buy" rating and set a $29.00 price target on the stock in a research report on Friday, June 27th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $21.21.

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.