BNP Paribas Financial Markets Boosts Stock Position in Franklin Resources, Inc. $BEN

BNP Paribas Financial Markets increased its stake in Franklin Resources, Inc. (NYSE:BEN) by 4.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 447,068 shares of the closed-end fund’s stock after buying an additional 20,132 shares during the period. BNP Paribas Financial Markets’ holdings in Franklin Resources were worth $10,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in Franklin Resources by 4.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,751 shares of the closed-end fund’s stock valued at $233,000 after acquiring an additional 397 shares in the last quarter. Horizon Investments LLC lifted its position in Franklin Resources by 4.3% in the 4th quarter. Horizon Investments LLC now owns 10,471 shares of the closed-end fund’s stock valued at $250,000 after acquiring an additional 433 shares in the last quarter. Larson Financial Group LLC lifted its position in Franklin Resources by 48.1% in the 4th quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 452 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Franklin Resources by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 102,708 shares of the closed-end fund’s stock valued at $2,376,000 after acquiring an additional 497 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Franklin Resources by 39.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,837 shares of the closed-end fund’s stock valued at $44,000 after acquiring an additional 524 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $31.39 on Tuesday. Franklin Resources, Inc. has a one year low of $21.10 and a one year high of $32.47. The stock’s fifty day moving average is $28.58 and its 200 day moving average is $26.24. The stock has a market cap of $16.31 billion, a P/E ratio of 23.96, a P/E/G ratio of 0.82 and a beta of 1.55. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.87 and a current ratio of 1.87.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Sell-side analysts anticipate that Franklin Resources, Inc. will post 2.74 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Franklin Resources’s dividend payout ratio (DPR) is currently 100.76%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays set a $31.00 price target on Franklin Resources and gave the company an “equal weight” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Franklin Resources from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings raised Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. TD Cowen reissued a “buy” rating on shares of Franklin Resources in a report on Thursday. Finally, Morgan Stanley raised Franklin Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $21.00 to $31.00 in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.00.

Franklin Resources 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.