18,950 Shares of Franklin Resources, Inc. $BEN Bought by TI Trust Inc.

TI Trust Inc. acquired a new stake in Franklin Resources, Inc. (NYSE:BEN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,950 shares of the closed-end fund’s stock, valued at approximately $609,000.

A number of other large investors have also added to or reduced their stakes in BEN. First Community Trust NA acquired a new stake in Franklin Resources during the 3rd quarter worth approximately $25,000. Armstrong Advisory Group Inc. bought a new stake in Franklin Resources during the 3rd quarter worth approximately $35,000. Compass Financial Management LLC bought a new stake in Franklin Resources during the 2nd quarter worth approximately $36,000. Elevation Wealth Partners LLC increased its position in Franklin Resources by 179.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 758 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Franklin Resources by 209.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 813 shares during the period. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

Franklin Resources stock opened at $31.65 on Thursday. The stock’s 50 day moving average is $33.14 and its 200 day moving average is $31.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $16.08 billion, a P/E ratio of 21.53, a P/E/G ratio of 0.56 and a beta of 1.54. Franklin Resources, Inc. has a one year low of $21.10 and a one year high of $36.28.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating 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 return on equity of 11.55% and a net margin of 8.72%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, research analysts expect that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Franklin Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were given a $0.33 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Franklin Resources’s payout ratio is 89.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BEN shares. TD Cowen dropped their price target on shares of Franklin Resources from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Morgan Stanley boosted their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, October 12th. Keefe, Bruyette & Woods started coverage on Franklin Resources in a report on Wednesday, September 9th. They issued a “hold” rating and a $38.00 price objective for the company. Finally, Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and a consensus target price of $35.89.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.