Franklin Resources, Inc. (NYSE:BEN) Stock Holdings Increased by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC lifted its holdings in Franklin Resources, Inc. (NYSE:BEN) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,738 shares of the closed-end fund’s stock after purchasing an additional 27,169 shares during the quarter. Franklin Resources accounts for approximately 0.9% of Twelve Points Wealth Management LLC’s holdings, making the stock its 19th largest position. Twelve Points Wealth Management LLC’s holdings in Franklin Resources were worth $3,241,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new position in Franklin Resources during the third quarter valued at about $26,000. Matrix Trust Co acquired a new position in shares of Franklin Resources in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in Franklin Resources by 254.4% during the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 1,277 shares during the last quarter. Brooklyn Investment Group bought a new stake in Franklin Resources during the third quarter worth approximately $39,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Franklin Resources in the third quarter valued at $41,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BEN shares. Barclays decreased their target price on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price objective on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Franklin Resources from $22.50 to $20.50 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $19.00 price target (down previously from $20.00) on shares of Franklin Resources in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.18.

Franklin Resources Stock Performance

Shares of BEN stock opened at $20.31 on Wednesday. The firm has a market cap of $10.64 billion, a P/E ratio of 23.61, a PEG ratio of 1.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61. The stock’s 50-day moving average is $20.94 and its two-hundred day moving average is $21.05.

Franklin Resources (NYSE:BEN) last posted its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $1.70 billion. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. Franklin Resources’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Analysts predict that Franklin Resources, Inc. will post 2.32 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Monday, December 30th were issued a dividend of $0.32 per share. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.30%. Franklin Resources’s dividend payout ratio is currently 148.84%.

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.