Franklin Resources, Inc. $BEN Stock Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in Franklin Resources, Inc. (NYSE:BEN) by 20.4% in the third quarter, HoldingsChannel.com reports. The fund owned 529,420 shares of the closed-end fund’s stock after purchasing an additional 89,670 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Franklin Resources were worth $17,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. United Community Bank grew its holdings in shares of Franklin Resources by 0.9% during the second quarter. United Community Bank now owns 37,849 shares of the closed-end fund’s stock worth $1,259,000 after buying an additional 320 shares in the last quarter. Choreo LLC raised its stake in Franklin Resources by 5.0% during the third quarter. Choreo LLC now owns 7,590 shares of the closed-end fund’s stock worth $244,000 after purchasing an additional 360 shares during the period. Empirical Finance LLC raised its position in shares of Franklin Resources by 3.7% in the 2nd quarter. Empirical Finance LLC now owns 10,783 shares of the closed-end fund’s stock worth $359,000 after buying an additional 380 shares during the period. Greenwich Wealth Management LLC lifted its stake in shares of Franklin Resources by 0.3% in the 2nd quarter. Greenwich Wealth Management LLC now owns 143,825 shares of the closed-end fund’s stock valued at $4,785,000 after purchasing an additional 389 shares in the last quarter. Finally, Caldwell Trust Co lifted its position in Franklin Resources by 13.0% during the third quarter. Caldwell Trust Co now owns 3,399 shares of the closed-end fund’s stock valued at $109,000 after buying an additional 390 shares in the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $36.26 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $32.65 and its two-hundred day moving average price is $30.48. Franklin Resources, Inc. has a 52 week low of $21.10 and a 52 week high of $36.79. The stock has a market cap of $18.42 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, beating the consensus estimate of $0.77 by $0.17. Franklin Resources had a net margin of 11.42% and a return on equity of 12.59%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $0.67 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 3.22 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 3.6%. Franklin Resources’s dividend payout ratio (DPR) is presently 66.67%.

Key Stories Impacting Franklin Resources

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

• Positive Sentiment: Franklin Templeton raised its fiscal 2029 targets for margins, private markets and ETFs, citing alternative-investment growth and operating efficiency as potential drivers. Article: Franklin Templeton Lifts 2029 Targets
• Positive Sentiment: TD Cowen raised its price target to $44 from $38 and reiterated a “buy” rating, signaling stronger analyst confidence in BEN’s prospects. TD Cowen recommendations
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $38 from $37, while keeping a “market perform” rating. Keefe, Bruyette & Woods recommendations
• Neutral Sentiment: Barclays raised its target to $36 from $34 but maintained an “equal weight” rating, indicating limited conviction in near-term outperformance. Franklin Resources price target raised at Barclays

Analysts Set New Price Targets

Several equities research analysts recently commented on BEN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Franklin Resources in a report on Monday, August 31st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $38.00 price objective (up from $37.00) on shares of Franklin Resources in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, October 12th. Zacks Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Barclays raised their target price on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.78.

About Franklin Resources

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.