Twelve Points Wealth Management LLC Has $3.24 Million Stake in Franklin Resources, Inc. (NYSE:BEN)

Twelve Points Wealth Management LLC grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 159,738 shares of the closed-end fund’s stock after purchasing an additional 27,169 shares during the quarter. Franklin Resources comprises 0.9% of Twelve Points Wealth Management LLC’s portfolio, making the stock its 19th biggest holding. Twelve Points Wealth Management LLC’s holdings in Franklin Resources were worth $3,241,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BEN. PNC Financial Services Group Inc. grew its holdings in Franklin Resources by 0.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock valued at $1,402,000 after buying an additional 572 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Franklin Resources by 30.2% in the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after acquiring an additional 604 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Franklin Resources by 3.2% during the third quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock worth $393,000 after acquiring an additional 609 shares during the period. Blue Trust Inc. boosted its holdings in Franklin Resources by 29.4% in the 4th quarter. Blue Trust Inc. now owns 2,677 shares of the closed-end fund’s stock valued at $54,000 after purchasing an additional 609 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Franklin Resources by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,918 shares of the closed-end fund’s stock worth $683,000 after purchasing an additional 722 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Trading Down 0.0 %

Shares of Franklin Resources stock opened at $20.31 on Wednesday. The stock has a market cap of $10.64 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.28 and a beta of 1.41. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92. Franklin Resources, Inc. has a 12-month low of $18.83 and a 12-month high of $28.61. The business’s 50 day moving average is $20.94 and its 200-day moving average is $21.05.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Equities research analysts predict that Franklin Resources, Inc. will post 2.32 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were issued a dividend of $0.32 per share. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, December 30th. This represents a $1.28 annualized dividend and a dividend yield of 6.30%. Franklin Resources’s payout ratio is presently 148.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BEN. Barclays lowered their price target on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $19.00 target price (down from $20.00) on shares of Franklin Resources in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $21.00 to $22.00 in a report on Monday, January 6th. Finally, Morgan Stanley upped their target price on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, Franklin Resources has a consensus rating of “Hold” and an average price target of $20.18.

Franklin Resources Company Profile

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.