iA Global Asset Management Inc. Makes New Investment in Franklin Resources, Inc. $BEN

iA Global Asset Management Inc. acquired a new stake in Franklin Resources, Inc. (NYSE:BEN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,537 shares of the closed-end fund’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Danske Bank A S bought a new position in Franklin Resources during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its stake in Franklin Resources by 277.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock valued at $27,000 after buying an additional 845 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 740 shares during the period. Finally, Leonteq Securities AG bought a new position in shares of Franklin Resources during the 4th quarter worth approximately $30,000. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Down 0.2%

BEN opened at $34.05 on Friday. Franklin Resources, Inc. has a fifty-two week low of $21.10 and a fifty-two week high of $34.55. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market capitalization of $17.69 billion, a P/E ratio of 25.99, a P/E/G ratio of 0.88 and a beta of 1.54. The stock has a fifty day moving average of $31.58 and a 200-day moving average of $27.59.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, beating the consensus estimate of $0.55 by $0.16. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $0.47 earnings per share. Franklin Resources’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Franklin Resources, Inc. will post 2.79 EPS for the current year.

Franklin Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 annualized dividend and a dividend yield of 3.9%. Franklin Resources’s dividend payout ratio (DPR) is currently 100.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BEN. TD Cowen increased their price target on Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on shares of Franklin Resources from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Franklin Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. 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 report on Wednesday, April 29th. Finally, Morgan Stanley increased their price target on shares of Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.67.

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.