Jupiter Asset Management Ltd. Buys 19,529 Shares of Franklin Resources, Inc. $BEN

Jupiter Asset Management Ltd. grew its stake in Franklin Resources, Inc. (NYSE:BEN) by 221.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,332 shares of the closed-end fund’s stock after acquiring an additional 19,529 shares during the period. Jupiter Asset Management Ltd.’s holdings in Franklin Resources were worth $677,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Danske Bank A S bought a new position in shares of Franklin Resources in the 4th quarter valued at about $26,000. Rakuten Securities Inc. grew its holdings in shares of Franklin Resources by 277.0% in the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock valued at $27,000 after acquiring an additional 845 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 740 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Franklin Resources in the 4th quarter valued at about $30,000. Finally, Larson Financial Group LLC grew its holdings in shares of 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. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Up 0.2%

Franklin Resources stock opened at $31.07 on Monday. Franklin Resources, Inc. has a 52 week low of $21.06 and a 52 week high of $32.44. 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 stock has a market capitalization of $16.14 billion, a P/E ratio of 23.72, a PEG ratio of 0.81 and a beta of 1.55. The stock has a 50-day simple moving average of $27.69 and a 200 day simple moving average of $25.86.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.16. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, June 29th. This represents a $1.32 annualized dividend and a yield of 4.2%. Franklin Resources’s dividend payout ratio (DPR) is 100.76%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Franklin Resources from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. TD Cowen lifted their price target on Franklin Resources from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Barclays set a $31.00 price target on Franklin Resources and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. The Goldman Sachs Group lifted their price target on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Evercore reiterated an “underperform” rating and set a $28.00 price target on shares of Franklin Resources in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.