Franklin Resources, Inc. $BEN Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,987 shares of the closed-end fund’s stock after selling 18,861 shares during the quarter. SVB Wealth LLC’s holdings in Franklin Resources were worth $3,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Compass Financial Management LLC purchased a new position in Franklin Resources in the second quarter valued at approximately $36,000. Motiv8 Investments LLC purchased a new stake in shares of Franklin Resources during the 4th quarter worth approximately $28,000. Leonteq Securities AG acquired a new position in shares of Franklin Resources in the 4th quarter valued at $30,000. Atlas Capital Advisors Inc. acquired a new position in shares of Franklin Resources in the 4th quarter valued at $32,000. Finally, Larson Financial Group LLC grew its position 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 buying an additional 452 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

NYSE BEN opened at $34.64 on Wednesday. The firm has a market cap of $17.60 billion, a P/E ratio of 23.57, a P/E/G ratio of 0.69 and a beta of 1.54. Franklin Resources, Inc. has a 52-week low of $21.10 and a 52-week high of $36.28. The business’s 50-day moving average price is $33.80 and its 200 day moving average price is $30.32. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business earned $0.49 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Franklin Resources, Inc. will post 2.88 earnings per share for the current year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 30th. Franklin Resources’s dividend payout ratio is 89.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BEN shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $34.00 price target on shares of Franklin Resources in a research note on Monday, August 3rd. Barclays upped their price objective on shares of Franklin Resources from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Evercore reaffirmed an “underperform” rating and set a $35.00 price objective on shares of Franklin Resources in a report on Friday, July 10th. Wall Street Zen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Finally, Morgan Stanley boosted their target price on Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Franklin Resources has a consensus rating of “Hold” and a consensus target price of $32.44.

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.