AXQ Capital LP Makes New Investment in Franklin Resources, Inc. $BEN

AXQ Capital LP bought a new position in Franklin Resources, Inc. (NYSE:BEN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,706 shares of the closed-end fund’s stock, valued at approximately $548,000.

Several other institutional investors and hedge funds have also made changes to their positions in BEN. Capital A Wealth Management LLC lifted its stake in Franklin Resources by 3,869.2% during the second quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 1,006 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Franklin Resources during the third quarter worth $25,000. Total Investment Management Inc. bought a new position in shares of Franklin Resources in the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Franklin Resources by 129.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock valued at $30,000 after buying an additional 740 shares during the period. Finally, Consultiva Wealth Management CORP. grew its position in shares of Franklin Resources by 177.1% during the 2nd quarter. Consultiva Wealth Management CORP. now owns 1,283 shares of the closed-end fund’s stock valued at $31,000 after buying an additional 820 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Price Performance

NYSE:BEN opened at $27.14 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.01. The business’s 50-day moving average price is $25.78 and its 200 day moving average price is $24.34. Franklin Resources, Inc. has a 52-week low of $16.25 and a 52-week high of $28.32. The firm has a market cap of $14.13 billion, a P/E ratio of 25.13, a PEG ratio of 0.85 and a beta of 1.46.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, March 31st. Franklin Resources’s dividend payout ratio is 122.22%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BEN shares. Morgan Stanley raised their target price on shares of Franklin Resources from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a research report on Monday, December 29th. Wall Street Zen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Barclays upped their target price on shares of Franklin Resources from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Thursday, January 15th. Finally, TD Cowen reiterated a “hold” rating on shares of Franklin Resources in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $25.89.

Franklin Resources Company 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.