Franklin Resources, Inc. $BEN Shares Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC increased its stake in Franklin Resources, Inc. (NYSE:BEN) by 156.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,534 shares of the closed-end fund’s stock after purchasing an additional 19,849 shares during the period. Sowell Financial Services LLC’s holdings in Franklin Resources were worth $1,088,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Community Trust NA acquired a new stake in shares of Franklin Resources in the 3rd quarter valued at $25,000. Compass Financial Management LLC acquired a new position in shares of Franklin Resources during the second quarter valued at $36,000. Armstrong Advisory Group Inc. bought a new position in Franklin Resources in the third quarter valued at about $35,000. Elevation Wealth Partners LLC boosted its holdings in Franklin Resources by 179.2% in the third 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Franklin Resources by 209.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 813 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Analyst Ratings Changes

BEN has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, September 25th. Barclays reiterated a “mixed” rating on shares of Franklin Resources in a research report on Wednesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Franklin Resources in a research note on Monday, August 31st. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.89.

Franklin Resources Trading Down 1.4%

NYSE BEN opened at $31.06 on Friday. The stock has a 50-day simple moving average of $33.04 and a 200 day simple moving average of $31.98. The company has a market capitalization of $15.78 billion, a PE ratio of 21.13, a P/E/G ratio of 0.56 and a beta of 1.54. 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, Inc. has a 12 month low of $21.10 and a 12 month high of $36.28.

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

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is currently 89.80%.

About Franklin Resources

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.