Franklin Resources, Inc. $BEN Stock Bought by Sterling Capital Management LLC

Sterling Capital Management LLC grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 54.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,532 shares of the closed-end fund’s stock after purchasing an additional 53,253 shares during the period. Sterling Capital Management LLC’s holdings in Franklin Resources were worth $5,210,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BEN. First Community Trust NA purchased a new position in Franklin Resources during the third quarter valued at approximately $25,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Franklin Resources during the 3rd quarter valued at $35,000. Compass Financial Management LLC acquired a new stake in shares of Franklin Resources during the 2nd quarter valued at $36,000. Elevation Wealth Partners LLC grew its holdings in shares of 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 valued at $39,000 after acquiring an additional 758 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 valued at $39,000 after acquiring an additional 813 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Price Performance

NYSE BEN opened at $31.06 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $15.78 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 0.55 and a beta of 1.54. The company has a 50 day moving average price of $33.04 and a two-hundred day moving average price of $31.98. Franklin Resources, Inc. has a 12-month low of $21.10 and a 12-month high of $36.28.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Franklin Resources, Inc. will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources’s payout ratio is presently 89.80%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BEN. JPMorgan Chase & Co. upped their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, October 12th. Morgan Stanley lifted their price objective on Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, September 25th. Wall Street Zen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. UBS Group began coverage on Franklin Resources in a research report on Wednesday, October 7th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, TD Cowen cut their price target on Franklin Resources from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average target price of $35.89.

Franklin Resources Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.