ORG Wealth Partners LLC Makes New Investment in Franklin Resources, Inc. (NYSE:BEN)

ORG Wealth Partners LLC acquired a new stake in Franklin Resources, Inc. (NYSE:BEN) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 6,300 shares of the closed-end fund’s stock, valued at approximately $127,000.

Other hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Franklin Resources in the first quarter valued at $32,000. Altshuler Shaham Ltd acquired a new stake in shares of Franklin Resources during the 2nd quarter worth about $27,000. Sentry Investment Management LLC bought a new stake in shares of Franklin Resources during the 2nd quarter worth about $30,000. Matrix Trust Co bought a new position in Franklin Resources in the 3rd quarter valued at about $29,000. Finally, Trust Co. of Vermont bought a new stake in shares of Franklin Resources during the fourth quarter worth approximately $45,000. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Price Performance

Franklin Resources stock opened at $20.13 on Tuesday. Franklin Resources, Inc. has a one year low of $18.94 and a one year high of $30.32. The stock’s 50 day moving average is $20.54 and its 200 day moving average is $22.61. The firm has a market cap of $10.59 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.29 and a beta of 1.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.71 and a quick ratio of 1.71.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. As a group, research analysts expect that Franklin Resources, Inc. will post 2.4 EPS for the current year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date was Monday, September 30th. Franklin Resources’s payout ratio is 70.86%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BEN shares. Deutsche Bank Aktiengesellschaft reduced their price target on Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, July 29th. TD Cowen boosted their price objective on shares of Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays dropped their price target on shares of Franklin Resources from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Monday. UBS Group lowered their price objective on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $23.00 target price on shares of Franklin Resources in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Franklin Resources currently has a consensus rating of “Hold” and a consensus target price of $22.33.

Insiders Place Their Bets

In other news, CEO Jennifer M. Johnson bought 18,900 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the transaction, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at $4,544,055. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jennifer M. Johnson acquired 18,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $20.95 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer M. Johnson bought 12,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were bought at an average cost 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 of the company’s stock, valued at $51,857,182. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 231,600 shares of company stock worth $4,537,637. Corporate insiders own 24.13% of the company’s stock.

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.