7,110 Shares in Franklin Resources, Inc. (NYSE:BEN) Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp acquired a new position in shares of Franklin Resources, Inc. (NYSE:BENFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,110 shares of the closed-end fund’s stock, valued at approximately $211,000.

Several other hedge funds have also added to or reduced their stakes in BEN. Norges Bank acquired a new stake in Franklin Resources during the 4th quarter worth $49,547,000. Qube Research & Technologies Ltd bought a new position in Franklin Resources during the 3rd quarter worth about $14,684,000. Invesco Ltd. increased its holdings in Franklin Resources by 6.8% during the 3rd quarter. Invesco Ltd. now owns 6,563,774 shares of the closed-end fund’s stock worth $161,338,000 after purchasing an additional 415,512 shares in the last quarter. Vest Financial LLC increased its holdings in Franklin Resources by 53.6% during the 4th quarter. Vest Financial LLC now owns 1,188,199 shares of the closed-end fund’s stock worth $35,396,000 after purchasing an additional 414,826 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd bought a new position in Franklin Resources during the 4th quarter worth about $9,288,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered their target price on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. TD Cowen lowered their target price on Franklin Resources from $29.00 to $25.50 and set a “hold” rating for the company in a report on Tuesday, April 30th. Evercore ISI decreased their price objective on Franklin Resources from $29.00 to $26.00 and set an “underperform” rating for the company in a report on Tuesday, April 30th. Morgan Stanley raised their price objective on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Franklin Resources from $29.00 to $24.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Franklin Resources has an average rating of “Hold” and a consensus price target of $26.00.

View Our Latest Stock Analysis on Franklin Resources

Franklin Resources Trading Down 1.4 %

Shares of NYSE:BEN opened at $22.90 on Friday. Franklin Resources, Inc. has a 52-week low of $21.88 and a 52-week high of $30.32. The company has a market capitalization of $12.04 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 2.02 and a beta of 1.44. The company has a 50-day simple moving average of $24.51 and a 200 day simple moving average of $26.39. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.82 and a current ratio of 1.82.

Franklin Resources (NYSE:BENGet Free Report) last issued its earnings results on Monday, April 29th. The closed-end fund reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Franklin Resources, Inc. will post 2.47 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.24 annualized dividend and a yield of 5.42%. Franklin Resources’s dividend payout ratio (DPR) is currently 70.86%.

About Franklin Resources

(Free Report)

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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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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