Azora Capital LP Buys 53,741 Shares of Franklin Resources, Inc. $BEN

Azora Capital LP lifted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,242,470 shares of the closed-end fund’s stock after buying an additional 53,741 shares during the period. Franklin Resources makes up about 3.5% of Azora Capital LP’s holdings, making the stock its 9th biggest holding. Azora Capital LP owned 0.62% of Franklin Resources worth $74,998,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital A Wealth Management LLC grew its position in Franklin Resources by 3,869.2% during the second quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock valued at $25,000 after acquiring an additional 1,006 shares during the period. Root Financial Partners LLC purchased a new position in shares of Franklin Resources in the 3rd quarter worth about $25,000. Total Investment Management Inc. purchased a new position in shares of Franklin Resources in the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of Franklin Resources by 129.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock valued at $30,000 after purchasing an additional 740 shares in the last quarter. Finally, Consultiva Wealth Management CORP. grew its holdings in shares of Franklin Resources by 177.1% during the 2nd quarter. Consultiva Wealth Management CORP. now owns 1,283 shares of the closed-end fund’s stock worth $31,000 after purchasing an additional 820 shares during the period. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Stock Up 1.6%

NYSE BEN opened at $24.15 on Friday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.01. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $28.32. The business has a 50 day moving average price of $26.29 and a two-hundred day moving average price of $24.42. The stock has a market cap of $12.57 billion, a PE ratio of 22.36, a P/E/G ratio of 0.76 and a beta of 1.46.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $2.23 billion. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, sell-side analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a $0.33 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. Franklin Resources’s payout ratio is currently 122.22%.

Analyst Ratings Changes

A number of research firms recently issued reports on BEN. Weiss Ratings reissued a “hold (c+)” rating on shares of Franklin Resources in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Morgan Stanley increased their price objective on shares of Franklin Resources from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. TD Cowen reissued a “hold” rating on shares of Franklin Resources in a research note on Monday, February 2nd. Finally, Barclays lifted their target price on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Franklin Resources has an average rating of “Reduce” and a consensus price target of $25.89.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.