Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC raised its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 541,485 shares of the closed-end fund’s stock after purchasing an additional 72,564 shares during the period. AE Wealth Management LLC owned 0.10% of Franklin Resources worth $12,102,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Franklin Resources in the 1st quarter valued at about $32,000. Principal Securities Inc. acquired a new position in Franklin Resources during the fourth quarter valued at approximately $35,000. Sentry Investment Management LLC purchased a new stake in Franklin Resources during the second quarter worth approximately $30,000. Trust Co. of Vermont acquired a new stake in shares of Franklin Resources in the fourth quarter worth $45,000. Finally, Denali Advisors LLC purchased a new position in shares of Franklin Resources in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BEN shares. UBS Group lowered their price target on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays assumed coverage on Franklin Resources in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $20.00 target price for the company. TD Cowen boosted their price target on Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $23.00 price objective on shares of Franklin Resources in a research note on Thursday, August 22nd. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

Insider Buying and Selling at Franklin Resources

In other news, CEO Jennifer M. Johnson bought 12,700 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the transaction, the chief executive officer now owns 2,637,700 shares in the company, valued at $51,857,182. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Franklin Resources news, CEO Jennifer M. Johnson acquired 18,900 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $20.95 per share, for a total transaction of $395,955.00. Following the completion of the purchase, the chief executive officer now directly owns 216,900 shares in the company, valued at $4,544,055. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer M. Johnson bought 12,700 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average cost of $19.66 per share, for a total transaction of $249,682.00. Following the acquisition, the chief executive officer now directly owns 2,637,700 shares of the company’s stock, valued at $51,857,182. The disclosure for this purchase can be found here. Insiders have bought 231,600 shares of company stock worth $4,537,637 over the last quarter. 24.13% of the stock is owned by corporate insiders.

Franklin Resources Stock Performance

Franklin Resources stock opened at $20.81 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $21.47 and a 200-day moving average of $23.51. The stock has a market cap of $10.95 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Franklin Resources, Inc. has a 52 week low of $18.94 and a 52 week high of $30.32.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. On average, analysts expect that Franklin Resources, Inc. will post 2.41 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Monday, September 30th. Franklin Resources’s dividend payout ratio is currently 70.86%.

Franklin Resources Company Profile

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.