Moody Aldrich Partners LLC lowered its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 26.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,143 shares of the closed-end fund’s stock after selling 11,790 shares during the period. Moody Aldrich Partners LLC’s holdings in Franklin Resources were worth $674,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. WASHINGTON TRUST Co bought a new position in shares of Franklin Resources in the 1st quarter worth approximately $25,000. Signaturefd LLC lifted its stake in shares of Franklin Resources by 100.7% in the 1st quarter. Signaturefd LLC now owns 2,437 shares of the closed-end fund’s stock worth $41,000 after purchasing an additional 1,223 shares during the period. Parallel Advisors LLC lifted its stake in shares of Franklin Resources by 240.4% in the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the closed-end fund’s stock worth $68,000 after purchasing an additional 2,914 shares during the period. Trust Co. of Vermont lifted its stake in shares of Franklin Resources by 1,040.0% in the 2nd quarter. Trust Co. of Vermont now owns 3,420 shares of the closed-end fund’s stock worth $72,000 after purchasing an additional 3,120 shares during the period. Finally, Cerebellum GP LLC bought a new position in shares of Franklin Resources in the 2nd quarter worth approximately $125,000. Institutional investors and hedge funds own 48.47% of the company’s stock.
BEN traded up $0.38 during trading on Friday, reaching $21.05. 13,424,161 shares of the company traded hands, compared to its average volume of 3,225,660. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.90 and a current ratio of 4.20. Franklin Resources, Inc. has a 12-month low of $14.91 and a 12-month high of $33.85. The firm has a fifty day simple moving average of $21.07 and a 200 day simple moving average of $20.70. The company has a market cap of $10.43 billion, a P/E ratio of 10.22 and a beta of 1.27.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Tuesday, July 28th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Franklin Resources had a net margin of 19.04% and a return on equity of 12.39%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm posted $0.72 EPS. The company’s revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts expect that Franklin Resources, Inc. will post 2.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date was Tuesday, July 14th. Franklin Resources’s dividend payout ratio (DPR) is presently 42.86%.
Several brokerages have recently weighed in on BEN. Citigroup increased their price objective on shares of Franklin Resources from $20.00 to $22.75 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group lowered their price objective on shares of Franklin Resources from $27.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Deutsche Bank decreased their target price on shares of Franklin Resources from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Cfra decreased their target price on shares of Franklin Resources from $29.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Finally, Barclays restated a “sell” rating and set a $19.00 target price on shares of Franklin Resources in a research note on Friday, July 17th. Seven research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company has an average rating of “Hold” and an average target price of $23.27.
About Franklin Resources
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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