Redhawk Wealth Advisors Inc. Takes Position in Franklin Resources, Inc. $BEN

Redhawk Wealth Advisors Inc. acquired a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 27,295 shares of the closed-end fund’s stock, valued at approximately $908,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Czech National Bank lifted its holdings in Franklin Resources by 4.3% during the second quarter. Czech National Bank now owns 87,266 shares of the closed-end fund’s stock valued at $2,903,000 after purchasing an additional 3,588 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Franklin Resources in the second quarter worth $272,000. GAMMA Investing LLC increased its stake in shares of Franklin Resources by 14.5% in the second quarter. GAMMA Investing LLC now owns 18,605 shares of the closed-end fund’s stock worth $619,000 after purchasing an additional 2,350 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Franklin Resources by 12.1% during the 2nd quarter. CoreCap Advisors LLC now owns 19,434 shares of the closed-end fund’s stock valued at $647,000 after purchasing an additional 2,093 shares during the period. Finally, City Center Advisors LLC bought a new stake in shares of Franklin Resources during the 2nd quarter valued at $394,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

NYSE:BEN opened at $33.31 on Wednesday. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 0.72 and a beta of 1.55. Franklin Resources, Inc. has a 1 year low of $21.10 and a 1 year high of $36.28. The business has a 50 day simple moving average of $33.11 and a 200-day simple moving average of $29.28. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. Equities analysts forecast that Franklin Resources, Inc. will post 2.86 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. Franklin Resources’s payout ratio is 89.80%.

Analysts Set New Price Targets

BEN has been the subject of several recent analyst reports. TD Cowen upped their target price on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Wall Street Zen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. The Goldman Sachs Group upped their price objective on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays increased their target price on Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.44.

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.