CIBC Private Wealth Group LLC Purchases 1,278 Shares of Franklin Resources, Inc. (NYSE:BEN)

CIBC Private Wealth Group LLC raised its position in Franklin Resources, Inc. (NYSE:BENFree Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,348 shares of the closed-end fund’s stock after purchasing an additional 1,278 shares during the period. CIBC Private Wealth Group LLC’s holdings in Franklin Resources were worth $576,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Cooper Financial Group increased its stake in Franklin Resources by 2.6% in the fourth quarter. Cooper Financial Group now owns 14,682 shares of the closed-end fund’s stock valued at $437,000 after purchasing an additional 371 shares in the last quarter. Verity Asset Management Inc. increased its stake in Franklin Resources by 3.2% in the fourth quarter. Verity Asset Management Inc. now owns 13,129 shares of the closed-end fund’s stock valued at $391,000 after purchasing an additional 411 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Franklin Resources by 4.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,622 shares of the closed-end fund’s stock valued at $287,000 after purchasing an additional 446 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Franklin Resources by 4.0% in the third quarter. SkyView Investment Advisors LLC now owns 14,629 shares of the closed-end fund’s stock valued at $359,000 after purchasing an additional 556 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Franklin Resources by 240.5% in the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after purchasing an additional 623 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Analysis on Franklin Resources

Franklin Resources Stock Performance

Shares of BEN opened at $22.85 on Tuesday. Franklin Resources, Inc. has a 12 month low of $21.88 and a 12 month high of $30.32. The firm has a fifty day simple moving average of $24.41 and a 200 day simple moving average of $26.42. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.98 and a beta of 1.44. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.90.

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

Franklin Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Friday, June 28th. Franklin Resources’s dividend payout ratio is currently 70.86%.

Franklin Resources Profile

(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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