Fideuram Asset Management Ireland dac Makes New Investment in Franklin Resources, Inc. $BEN

Fideuram Asset Management Ireland dac bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,102 shares of the closed-end fund’s stock, valued at approximately $456,000.

Several other hedge funds have also recently modified their holdings of BEN. Danske Bank A S bought a new position in shares of Franklin Resources during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its position in shares of 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 buying an additional 845 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Franklin Resources by 129.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock worth $30,000 after buying an additional 740 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Franklin Resources during the 4th quarter worth approximately $30,000. Finally, Larson Financial Group LLC lifted its position in shares of Franklin Resources by 48.1% during the 4th quarter. Larson Financial Group LLC now owns 1,392 shares of the closed-end fund’s stock worth $33,000 after buying an additional 452 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Up 0.2%

NYSE:BEN opened at $31.07 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $16.14 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.55. The firm’s 50 day moving average is $27.69 and its 200 day moving average is $25.86. Franklin Resources, Inc. has a 12 month low of $21.06 and a 12 month high of $32.44.

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, topping analysts’ consensus estimates of $0.55 by $0.16. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. Franklin Resources’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts expect that Franklin Resources, Inc. will post 2.74 earnings per share for the current year.

Franklin Resources Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on BEN. TD Cowen lifted their target price on shares of Franklin Resources from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays set a $31.00 target price on shares of Franklin Resources and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Weiss Ratings cut shares of Franklin Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.56.

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.