Finward Bancorp Buys 28,320 Shares of Franklin Resources, Inc. $BEN

Finward Bancorp bought a new position in shares of Franklin Resources, Inc. (NYSE:BEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,320 shares of the closed-end fund’s stock, valued at approximately $910,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Community Trust NA acquired a new position in Franklin Resources in the 3rd quarter valued at about $25,000. Armstrong Advisory Group Inc. purchased a new stake in Franklin Resources during the 3rd quarter worth approximately $35,000. Compass Financial Management LLC purchased a new stake in Franklin Resources during the 2nd quarter worth approximately $36,000. Elevation Wealth Partners LLC lifted its holdings in Franklin Resources by 179.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund’s stock worth $39,000 after buying an additional 758 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Franklin Resources by 209.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock worth $39,000 after buying an additional 813 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Down 2.0%

NYSE:BEN traded down $0.64 during mid-day trading on Wednesday, hitting $30.55. The stock had a trading volume of 5,055,482 shares, compared to its average volume of 4,782,054. The stock has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $31.60. The company has a market capitalization of $15.52 billion, a PE ratio of 20.78, a PEG ratio of 0.56 and a beta of 1.54. Franklin Resources, Inc. has a twelve month low of $21.10 and a twelve month high of $36.28. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 2.91 EPS for the current year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were paid a $0.33 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. Franklin Resources’s dividend payout ratio (DPR) is currently 89.80%.

Wall Street Analyst Weigh In

Several equities analysts have commented on BEN shares. Keefe, Bruyette & Woods began coverage on shares of Franklin Resources in a research note on Wednesday, September 9th. They issued a “hold” rating and a $38.00 price target for the company. Zacks Research lowered Franklin Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Morgan Stanley lifted their target price on Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, September 25th. UBS Group initiated coverage on Franklin Resources in a report on Wednesday, October 7th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Franklin Resources in a research note on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and a consensus target price of $35.89.

Franklin Resources Profile

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.