Franklin Resources, Inc. $BEN Stock Holdings Decreased by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC lessened its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,317 shares of the closed-end fund’s stock after selling 30,571 shares during the period. Franklin Resources accounts for approximately 0.9% of Twelve Points Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Twelve Points Wealth Management LLC’s holdings in Franklin Resources were worth $3,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Holocene Advisors LP acquired a new stake in Franklin Resources in the second quarter worth $51,384,000. Wedge Capital Management L L P NC bought a new position in shares of Franklin Resources during the third quarter worth about $32,293,000. Northern Trust Corp grew its position in shares of Franklin Resources by 49.8% during the third quarter. Northern Trust Corp now owns 4,118,686 shares of the closed-end fund’s stock worth $95,265,000 after acquiring an additional 1,370,132 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Franklin Resources by 381.7% in the 3rd quarter. Squarepoint Ops LLC now owns 1,433,816 shares of the closed-end fund’s stock worth $33,164,000 after acquiring an additional 1,136,174 shares during the period. Finally, Two Sigma Investments LP lifted its position in Franklin Resources by 167.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,494,817 shares of the closed-end fund’s stock valued at $34,575,000 after purchasing an additional 936,105 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 0.5%

Shares of BEN opened at $24.91 on Friday. Franklin Resources, Inc. has a 12 month low of $17.17 and a 12 month high of $28.32. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $25.60 and a two-hundred day moving average price of $24.27. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 0.85 and a beta of 1.44.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, January 30th. The closed-end fund reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.15. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. Franklin Resources’s dividend payout ratio is 122.22%.

Wall Street Analyst Weigh In

BEN has been the subject of several analyst reports. Evercore set a $27.00 price objective on Franklin Resources in a research report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Franklin Resources in a research note on Monday, December 29th. Morgan Stanley boosted their price target on Franklin Resources from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. TD Cowen reissued a “buy” rating on shares of Franklin Resources in a report on Thursday. Finally, Barclays lifted their price objective on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Thursday, January 15th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $25.78.

Franklin Resources 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.