Invst LLC Purchases New Position in Franklin Resources, Inc. $BEN

Invst LLC acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,051 shares of the closed-end fund’s stock, valued at approximately $933,000.

Other large investors have also modified their holdings of the company. Danske Bank A S purchased a new position in Franklin Resources in the 4th quarter worth approximately $26,000. Motiv8 Investments LLC purchased a new stake in shares of Franklin Resources during the fourth quarter valued at approximately $28,000. Leonteq Securities AG acquired a new position in shares of Franklin Resources during the fourth quarter worth $30,000. Atlas Capital Advisors Inc. acquired a new position in shares of Franklin Resources during the fourth quarter worth $32,000. Finally, Larson Financial Group LLC boosted its stake in shares of Franklin Resources by 48.1% in the fourth quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund’s stock valued at $33,000 after purchasing an additional 452 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Price Performance

BEN opened at $35.07 on Wednesday. The company has a market capitalization of $17.82 billion, a P/E ratio of 23.86, a PEG ratio of 0.69 and a beta of 1.55. The company has a 50-day moving average of $33.59 and a 200-day moving average of $29.84. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. Franklin Resources, Inc. has a 1-year low of $21.10 and a 1-year high of $36.28.

Franklin Resources (NYSE:BEN) last issued its quarterly 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 business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 earnings per share. Equities analysts expect that Franklin Resources, Inc. will post 2.88 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.33 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 3.8%. Franklin Resources’s dividend payout ratio (DPR) is presently 89.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BEN shares. Morgan Stanley lifted their price target on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Weiss Ratings raised Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. Evercore restated an “underperform” rating and set a $35.00 price objective on shares of Franklin Resources in a report on Friday, July 10th. Finally, Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Franklin Resources has a consensus rating of “Hold” and a consensus target price of $32.44.

Franklin Resources Company 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.