Allworth Financial LP Has $125,000 Stake in Franklin Resources, Inc. (NYSE:BEN)

Allworth Financial LP raised its holdings in Franklin Resources, Inc. (NYSE:BEN) by 82.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,307 shares of the closed-end fund’s stock after buying an additional 2,855 shares during the quarter. Allworth Financial LP’s holdings in Franklin Resources were worth $125,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BEN. Blue Trust Inc. lifted its position in shares of Franklin Resources by 124.8% during the 3rd quarter. Blue Trust Inc. now owns 2,068 shares of the closed-end fund’s stock worth $46,000 after buying an additional 1,148 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Franklin Resources by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,001 shares of the closed-end fund’s stock worth $302,000 after buying an additional 1,195 shares during the period. International Assets Investment Management LLC lifted its position in shares of Franklin Resources by 1,928.8% during the 3rd quarter. International Assets Investment Management LLC now owns 79,469 shares of the closed-end fund’s stock worth $1,601,000 after buying an additional 75,552 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Franklin Resources by 46.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,632 shares of the closed-end fund’s stock worth $1,073,000 after buying an additional 16,283 shares during the period. Finally, Forsta AP Fonden lifted its position in shares of Franklin Resources by 46.0% during the 3rd quarter. Forsta AP Fonden now owns 151,000 shares of the closed-end fund’s stock worth $3,043,000 after buying an additional 47,600 shares during the period. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Down 1.1 %

BEN opened at $20.50 on Monday. The company has a market cap of $10.77 billion, a P/E ratio of 31.53, a P/E/G ratio of 2.15 and a beta of 1.42. The business’s 50-day moving average price is $20.30 and its 200-day moving average price is $20.74. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.61.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.25%. Franklin Resources’s dividend payout ratio is presently 196.93%.

Wall Street Analysts Forecast Growth

BEN has been the subject of several research analyst reports. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $22.00 in a research report on Monday, January 6th. UBS Group lifted their price objective on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Wells Fargo & Company lifted their price objective on Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.86.

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.