Corient Private Wealth LP Acquires New Position in Franklin Resources, Inc. $BEN

Corient Private Wealth LP acquired a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 65,815 shares of the closed-end fund’s stock, valued at approximately $2,190,000.

A number of other large investors also recently bought and sold shares of BEN. Danske Bank A S acquired a new position in shares of Franklin Resources in the 4th quarter worth approximately $26,000. Motiv8 Investments LLC acquired a new stake in shares of Franklin Resources during the 4th quarter valued at approximately $28,000. Leonteq Securities AG bought a new position in Franklin Resources during the fourth quarter worth $30,000. Atlas Capital Advisors Inc. bought a new position in Franklin Resources during the fourth quarter worth $32,000. Finally, Larson Financial Group LLC boosted its holdings in 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 worth $33,000 after purchasing an additional 452 shares during the period. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

Shares of BEN opened at $33.05 on Thursday. The company has a market cap of $16.79 billion, a P/E ratio of 22.48, a PEG ratio of 0.66 and a beta of 1.54. The stock has a fifty day moving average price of $33.70 and a 200 day moving average price of $30.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts forecast that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 yield of 4.0%. Franklin Resources’s dividend payout ratio (DPR) is currently 89.80%.

Wall Street Analyst Weigh In

BEN has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Evercore reaffirmed an “underperform” rating and issued a $35.00 price target on shares of Franklin Resources in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $34.00 price objective on shares of Franklin Resources in a research report on Monday, August 3rd. Barclays increased their price objective on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Zacks Research cut shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.44.

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.