Hsbc Holdings PLC Has $26.82 Million Stock Holdings in Franklin Resources, Inc. $BEN

Hsbc Holdings PLC trimmed its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,119,809 shares of the closed-end fund’s stock after selling 27,796 shares during the period. Hsbc Holdings PLC’s holdings in Franklin Resources were worth $26,822,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Prana Capital Management LP increased its holdings in shares of Franklin Resources by 135.8% during the 3rd quarter. Prana Capital Management LP now owns 860,762 shares of the closed-end fund’s stock valued at $19,909,000 after acquiring an additional 495,747 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Franklin Resources by 35.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,101,000 shares of the closed-end fund’s stock worth $48,596,000 after purchasing an additional 554,842 shares during the last quarter. Xponance Inc. boosted its position in Franklin Resources by 234.0% during the third quarter. Xponance Inc. now owns 99,631 shares of the closed-end fund’s stock worth $2,304,000 after purchasing an additional 69,802 shares during the period. Dimensional Fund Advisors LP grew its holdings in Franklin Resources by 5.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,065,908 shares of the closed-end fund’s stock valued at $232,833,000 after purchasing an additional 553,184 shares during the last quarter. Finally, Board of the Pension Protection Fund grew its holdings in Franklin Resources by 413.8% during the fourth quarter. Board of the Pension Protection Fund now owns 66,800 shares of the closed-end fund’s stock valued at $1,596,000 after purchasing an additional 53,800 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 3.8%

BEN opened at $32.51 on Thursday. Franklin Resources, Inc. has a 1-year low of $21.10 and a 1-year high of $34.42. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 0.88 and a beta of 1.55. The business has a 50 day moving average of $30.68 and a 200-day moving average of $27.12.

Franklin Resources (NYSE:BEN) last announced its earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.70 billion. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. Franklin Resources’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.77 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, June 29th. Franklin Resources’s dividend payout ratio (DPR) is currently 100.76%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. JPMorgan Chase & Co. lifted their target price on shares of Franklin Resources from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Franklin Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday. Evercore restated an “underperform” rating and set a $32.00 price target on shares of Franklin Resources in a report on Monday, June 8th. Finally, Barclays set a $31.00 price target on Franklin Resources and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.33.

About Franklin Resources

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.