Franklin Resources, Inc. $BEN Stock: Beverly Hills Private Wealth LLC Boosts Position

Beverly Hills Private Wealth LLC increased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 36.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,541 shares of the closed-end fund’s stock after acquiring an additional 18,158 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Franklin Resources were worth $2,202,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Franklin Resources in the second quarter valued at $961,845,000. Azora Capital LP acquired a new position in shares of Franklin Resources during the 2nd quarter worth $229,850,000. Bank of New York Mellon Corp purchased a new position in shares of Franklin Resources in the 2nd quarter valued at about $152,692,000. Kopernik Global Investors LLC increased its holdings in shares of Franklin Resources by 4.6% in the 1st quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund’s stock valued at $83,204,000 after purchasing an additional 153,422 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Franklin Resources by 37.3% in the first quarter. Bank of America Corp DE now owns 1,964,424 shares of the closed-end fund’s stock valued at $46,400,000 after purchasing an additional 533,192 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Up 0.3%

NYSE:BEN opened at $33.84 on Monday. Franklin Resources, Inc. has a 52-week low of $21.10 and a 52-week high of $36.28. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a fifty day simple moving average of $32.58 and a 200-day simple moving average of $30.38. The company has a market capitalization of $17.19 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.56.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Franklin Resources had a net margin of 11.42% and a return on equity of 12.59%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.67 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Franklin Resources, Inc. will post 3.20 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources’s dividend payout ratio is 66.67%.

More Franklin Resources News

Here are the key news stories impacting Franklin Resources this week:

• Positive Sentiment: Adjusted earnings were $0.94 per share, above analyst expectations of roughly $0.77–$0.78 and up from $0.67 a year earlier. Revenue of $1.88 billion also topped estimates of $1.86 billion and increased 3.9% year over year. Article: Franklin Templeton Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reports attributed the results to higher revenue, year-over-year growth in assets under management, robust long-term net inflows and lower operating expenses—indicators that support earnings momentum. Article: Franklin Q4 Earnings Beat Estimates on Higher Revenues, AUM Rises Year Over Year

Analyst Upgrades and Downgrades

A number of research firms recently commented on BEN. Barclays reissued a “mixed” rating on shares of Franklin Resources in a report on Wednesday, October 14th. Keefe, Bruyette & Woods assumed coverage on shares of Franklin Resources in a report on Wednesday, September 9th. They issued a “hold” rating and a $38.00 target price for the company. TD Cowen reduced their price target on shares of Franklin Resources from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Franklin Resources in a research note on Monday, August 31st. Finally, Zacks Research lowered Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Franklin Resources presently has a consensus rating of “Hold” and an average price target of $35.89.

Franklin Resources Company Profile

Franklin Resources, Inc is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts.

The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.

Founded in 1947, Franklin Resources has grown through acquisitions, including its 2020 acquisition of Legg Mason.