HF Advisory Group LLC Acquires 77,833 Shares of Franklin Resources, Inc. $BEN

HF Advisory Group LLC acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 77,833 shares of the closed-end fund’s stock, valued at approximately $2,500,000.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Franklin Resources in the 2nd quarter worth $961,845,000. Azora Capital LP bought a new position in shares of Franklin Resources during the second quarter worth about $229,850,000. Bank of New York Mellon Corp acquired a new stake in Franklin Resources in the 2nd quarter valued at approximately $152,692,000. Squarepoint Ops LLC lifted its stake in Franklin Resources by 188.2% in the 4th quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock valued at $98,703,000 after acquiring an additional 2,697,743 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC bought a new stake in Franklin Resources in the 2nd quarter valued at approximately $45,904,000. 47.56% of the stock is owned by institutional investors.

Franklin Resources Price Performance

Shares of BEN opened at $31.98 on Friday. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.57 and a beta of 1.54. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The company’s fifty day simple moving average is $33.63 and its 200 day simple moving average is $31.44. Franklin Resources, Inc. has a 1-year low of $21.10 and a 1-year high of $36.28.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. On average, research analysts forecast that Franklin Resources, Inc. will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Franklin Resources’s dividend payout ratio (DPR) is presently 89.80%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Franklin Resources in a research note on Wednesday, September 9th. They set a “hold” rating and a $38.00 price target for the company. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. TD Cowen raised their target price on shares of Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Barclays lifted their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley boosted their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, September 25th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.89.

Franklin Resources Profile

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.