Redhawk Wealth Advisors Inc. Makes New $908,000 Investment in Franklin Resources, Inc. $BEN

Redhawk Wealth Advisors Inc. bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the 2nd quarter, HoldingsChannel reports. The firm bought 27,295 shares of the closed-end fund’s stock, valued at approximately $908,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in shares of Franklin Resources in the 4th quarter valued at $26,000. Rakuten Securities Inc. lifted its position in Franklin Resources by 277.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after acquiring an additional 845 shares during the period. Motiv8 Investments LLC acquired a new stake in Franklin Resources during the 4th quarter worth about $28,000. Leonteq Securities AG purchased a new stake in Franklin Resources during the 4th quarter valued at about $30,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Franklin Resources in the fourth quarter valued at about $32,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BEN has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Franklin Resources from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. TD Cowen increased their price objective on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Zacks Research raised shares of Franklin Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Evercore restated an “underperform” rating and set a $35.00 target price on shares of Franklin Resources in a research report on Friday, July 10th. Finally, The Goldman Sachs Group increased their price target on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.44.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $33.31 on Wednesday. The stock has a market capitalization of $16.93 billion, a P/E ratio of 22.66, a PEG ratio of 0.72 and a beta of 1.55. The business has a 50 day simple moving average of $33.11 and a two-hundred day simple moving average of $29.28. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28. 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 (NYSE:BEN) last posted its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. Franklin Resources’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. As a group, analysts predict that Franklin Resources, Inc. will post 2.86 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $1.32 annualized dividend and a yield of 4.0%. Franklin Resources’s dividend payout ratio (DPR) is 89.80%.

About Franklin Resources

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.