Twelve Points Wealth Management LLC boosted its holdings in shares of Franklin Resources, Inc. (NYSE:BEN – Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,209 shares of the closed-end fund’s stock after purchasing an additional 17,471 shares during the period. Franklin Resources makes up approximately 0.9% of Twelve Points Wealth Management LLC’s holdings, making the stock its 20th biggest position. Twelve Points Wealth Management LLC’s holdings in Franklin Resources were worth $3,411,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC raised its holdings in Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock worth $25,000 after acquiring an additional 737 shares during the period. GeoWealth Management LLC increased its stake in shares of Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock valued at $26,000 after buying an additional 981 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Franklin Resources by 44.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after buying an additional 505 shares during the last quarter. Headlands Technologies LLC bought a new stake in Franklin Resources in the fourth quarter valued at approximately $34,000. Finally, Contravisory Investment Management Inc. bought a new position in Franklin Resources during the first quarter worth about $46,000. Institutional investors and hedge funds own 47.56% of the company’s stock.
Franklin Resources Trading Down 0.2%
Shares of Franklin Resources stock opened at $24.50 on Wednesday. The company has a market capitalization of $12.88 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.33 and a beta of 1.45. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.95 and a current ratio of 1.95. The company has a fifty day moving average of $22.16 and a 200 day moving average of $20.48.
Franklin Resources Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.32 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.28 annualized dividend and a yield of 5.22%. Franklin Resources’s dividend payout ratio (DPR) is 188.24%.
Analyst Ratings Changes
A number of analysts recently issued reports on BEN shares. Wells Fargo & Company lifted their target price on Franklin Resources from $20.00 to $21.50 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Cowen reiterated a “buy” rating on shares of Franklin Resources in a research report on Monday, June 16th. The Goldman Sachs Group upgraded Franklin Resources from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Friday, June 27th. Evercore ISI decreased their price target on Franklin Resources from $19.00 to $17.00 and set an “underperform” rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley raised their price target on shares of Franklin Resources from $14.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, July 2nd. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franklin Resources has a consensus rating of “Hold” and a consensus target price of $21.21.
Get Our Latest Stock Analysis on Franklin Resources
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.
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