Yousif Capital Management LLC grew its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 353,913 shares of the closed-end fund's stock after purchasing an additional 54,663 shares during the period. Yousif Capital Management LLC owned about 0.07% of Franklin Resources worth $6,813,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BEN. Norges Bank bought a new stake in Franklin Resources during the fourth quarter worth about $53,676,000. Two Sigma Advisers LP lifted its stake in shares of Franklin Resources by 173.7% in the 4th quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund's stock valued at $71,658,000 after acquiring an additional 2,241,500 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Franklin Resources by 132.7% in the 4th quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund's stock valued at $59,557,000 after acquiring an additional 1,673,971 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Franklin Resources by 33.1% in 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 acquiring an additional 1,599,849 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of 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. Institutional investors own 47.56% of the company's stock.
Franklin Resources Stock Down 2.0%
NYSE BEN traded down $0.45 on Friday, hitting $22.16. The stock had a trading volume of 2,203,259 shares, compared to its average volume of 4,487,527. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 2.31 and a beta of 1.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. Franklin Resources, Inc. has a 52-week low of $16.25 and a 52-week high of $24.37. The business's fifty day moving average price is $20.27 and its 200 day moving average price is $20.28.
Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The firm's revenue was down 6.2% on a year-over-year basis. Equities research analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.
Franklin Resources Dividend Announcement
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 dividend yield of 5.78%. Franklin Resources's dividend payout ratio (DPR) is currently 188.24%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on BEN shares. Evercore ISI reduced their price target on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a report on Friday, April 11th. Morgan Stanley reduced their price target on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company boosted their price target on Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a report on Monday, May 5th. The Goldman Sachs Group boosted their price target on Franklin Resources from $19.00 to $21.50 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Cowen upgraded Franklin Resources from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Franklin Resources presently has a consensus rating of "Hold" and a consensus target price of $20.25.
Check Out Our Latest Report on Franklin Resources
About Franklin Resources
(
Free Report)
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.
Further Reading
Before you consider Franklin Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Resources wasn't on the list.
While Franklin Resources currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
