105,153 Shares in Franklin Resources, Inc. $BEN Acquired by SVB Wealth LLC

SVB Wealth LLC purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 105,153 shares of the closed-end fund’s stock, valued at approximately $2,512,000.

Other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Franklin Resources during the 3rd quarter worth approximately $25,000. Danske Bank A S acquired a new position in Franklin Resources during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. raised its stake in Franklin Resources by 277.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after buying an additional 845 shares during the period. EverSource Wealth Advisors LLC raised its stake in Franklin Resources by 129.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock worth $30,000 after buying an additional 740 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Franklin Resources by 257.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,492 shares of the closed-end fund’s stock worth $35,000 after buying an additional 1,075 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

Shares of Franklin Resources stock opened at $31.55 on Tuesday. The company has a market cap of $16.39 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56. Franklin Resources, Inc. has a 52 week low of $21.06 and a 52 week high of $31.60. The business has a 50 day moving average price of $26.01 and a 200-day moving average price of $25.01. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.10.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, topping the consensus estimate of $0.55 by $0.16. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. Equities analysts anticipate that Franklin Resources, Inc. will post 2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BEN shares. The Goldman Sachs Group upped their price target on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley raised Franklin Resources from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $21.00 to $31.00 in a research note on Wednesday, May 6th. Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Evercore reissued an “underperform” rating and issued a $28.00 price objective on shares of Franklin Resources in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on Franklin Resources from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $29.56.

Franklin Resources Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.