Allworth Financial LP Has $125,000 Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Allworth Financial LP grew its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 82.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,307 shares of the closed-end fund’s stock after buying an additional 2,855 shares during the quarter. Allworth Financial LP’s holdings in Franklin Resources were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Franklin Resources by 124.8% in the third quarter. Blue Trust Inc. now owns 2,068 shares of the closed-end fund’s stock valued at $46,000 after buying an additional 1,148 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Franklin Resources by 8.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,001 shares of the closed-end fund’s stock valued at $302,000 after buying an additional 1,195 shares during the period. International Assets Investment Management LLC lifted its holdings in Franklin Resources by 1,928.8% in the third quarter. International Assets Investment Management LLC now owns 79,469 shares of the closed-end fund’s stock valued at $1,601,000 after buying an additional 75,552 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Franklin Resources by 46.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,632 shares of the closed-end fund’s stock valued at $1,073,000 after buying an additional 16,283 shares during the period. Finally, Forsta AP Fonden lifted its holdings in Franklin Resources by 46.0% in the third quarter. Forsta AP Fonden now owns 151,000 shares of the closed-end fund’s stock valued at $3,043,000 after buying an additional 47,600 shares during the period. 47.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BEN. StockNews.com upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. UBS Group increased their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.86.

Franklin Resources Trading Down 1.1 %

Shares of NYSE:BEN opened at $20.50 on Monday. Franklin Resources, Inc. has a 12-month low of $18.83 and a 12-month high of $28.61. The company has a market capitalization of $10.77 billion, a PE ratio of 31.53, a PEG ratio of 2.15 and a beta of 1.42. The business has a 50 day moving average of $20.30 and a two-hundred day moving average of $20.74. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same quarter in the previous year, the business earned $0.65 earnings per share. As a group, analysts forecast that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.93%.

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.