Metis Global Partners LLC purchased a new stake in shares of Franklin Resources, Inc. (NYSE:BEN – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,131 shares of the closed-end fund’s stock, valued at approximately $246,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. CPR Investments Inc. bought a new stake in Franklin Resources during the first quarter valued at about $226,000. Sigma Planning Corp grew its position in shares of Franklin Resources by 13.4% during the first quarter. Sigma Planning Corp now owns 15,424 shares of the closed-end fund’s stock valued at $416,000 after purchasing an additional 1,820 shares in the last quarter. MQS Management LLC purchased a new position in shares of Franklin Resources during the first quarter valued at about $474,000. Treasurer of the State of North Carolina grew its position in shares of Franklin Resources by 4.0% during the first quarter. Treasurer of the State of North Carolina now owns 128,824 shares of the closed-end fund’s stock valued at $3,471,000 after purchasing an additional 4,960 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Franklin Resources by 8.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,572 shares of the closed-end fund’s stock valued at $1,551,000 after purchasing an additional 4,357 shares in the last quarter. 46.70% of the stock is owned by institutional investors.
Franklin Resources Stock Down 0.1 %
Shares of NYSE:BEN opened at $27.91 on Friday. Franklin Resources, Inc. has a 1 year low of $20.24 and a 1 year high of $34.37. The business has a 50 day simple moving average of $27.55 and a two-hundred day simple moving average of $27.54. The firm has a market capitalization of $13.93 billion, a PE ratio of 17.44 and a beta of 1.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.63 and a quick ratio of 1.89.
Franklin Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, June 29th. This represents a $1.20 annualized dividend and a dividend yield of 4.30%. Franklin Resources’s dividend payout ratio (DPR) is presently 75.00%.
Analyst Upgrades and Downgrades
BEN has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on Franklin Resources from $25.50 to $26.00 in a research report on Thursday, July 13th. BMO Capital Markets lifted their price target on Franklin Resources from $24.00 to $27.00 in a research report on Monday, July 31st. StockNews.com initiated coverage on Franklin Resources in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on Franklin Resources from $23.00 to $24.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 8th. Finally, The Goldman Sachs Group lifted their price target on Franklin Resources from $21.50 to $24.50 and gave the stock a “sell” rating in a research report on Tuesday, August 1st. Six analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $25.25.
Get Our Latest Analysis on BEN
About Franklin Resources
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.
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