Franklin Resources, Inc. $BEN Holdings Lessened by ProShare Advisors LLC

ProShare Advisors LLC lowered its position in Franklin Resources, Inc. (NYSE:BEN) by 13.9% in the 3rd quarter, Holdings Channel reports. The firm owned 5,188,212 shares of the closed-end fund’s stock after selling 834,113 shares during the quarter. ProShare Advisors LLC’s holdings in Franklin Resources were worth $166,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEN. First Community Trust NA bought a new position in shares of Franklin Resources during the 3rd quarter worth $25,000. Compass Financial Management LLC acquired a new position in Franklin Resources in the 2nd quarter worth approximately $36,000. Armstrong Advisory Group Inc. acquired a new stake in Franklin Resources during the third quarter worth about $35,000. Elevation Wealth Partners LLC grew its position in Franklin Resources by 179.2% during the third quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 758 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Franklin Resources by 209.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 813 shares during the period. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Down 2.1%

Shares of NYSE BEN opened at $31.66 on Friday. 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 stock has a market capitalization of $16.09 billion, a PE ratio of 21.54, a PEG ratio of 0.56 and a beta of 1.54. Franklin Resources, Inc. has a twelve month low of $21.10 and a twelve month high of $36.28. The stock has a fifty day simple moving average of $32.78 and a 200-day simple moving average of $30.20.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (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 business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $0.49 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that Franklin Resources, Inc. will post 2.91 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a $0.33 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Franklin Resources’s dividend payout ratio (DPR) is presently 89.80%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Keefe, Bruyette & Woods started coverage on Franklin Resources in a research report on Wednesday, September 9th. They set a “hold” rating and a $38.00 price target for the company. Barclays reaffirmed a “mixed” rating on shares of Franklin Resources in a report on Wednesday, October 14th. UBS Group assumed coverage on shares of Franklin Resources in a research note on Wednesday, October 7th. They issued a “buy” rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $34.00 price target on shares of Franklin Resources in a research note on Monday, August 3rd. Finally, Morgan Stanley upped their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, September 25th. Four 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 data from MarketBeat.com, Franklin Resources has a consensus rating of “Hold” and a consensus target price of $35.89.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.