Level Four Advisory Services LLC Has $459,000 Holdings in Franklin Resources, Inc. (BEN)
Level Four Advisory Services LLC lessened its holdings in Franklin Resources, Inc. (NYSE:BEN) by 57.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,077 shares of the closed-end fund’s stock after selling 14,931 shares during the quarter. Level Four Advisory Services LLC’s holdings in Franklin Resources were worth $459,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc increased its holdings in Franklin Resources by 16.1% in the 2nd quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after buying an additional 372 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Franklin Resources in the 2nd quarter valued at $123,000. First Midwest Bank Trust Division bought a new stake in Franklin Resources in the 2nd quarter valued at $204,000. NBT Bank N A NY bought a new stake in Franklin Resources in the 2nd quarter valued at $206,000. Finally, Global X Management Co. LLC increased its holdings in Franklin Resources by 7.9% in the 1st quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after buying an additional 337 shares during the period. 44.95% of the stock is currently owned by hedge funds and other institutional investors.
BEN has been the topic of several analyst reports. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 1st. BidaskClub lowered shares of Franklin Resources from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a report on Thursday, August 3rd. Deutsche Bank AG boosted their target price on shares of Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $44.00 target price on shares of Franklin Resources in a research note on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Franklin Resources has an average rating of “Hold” and an average target price of $44.36.
Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, September 28th. Franklin Resources’s dividend payout ratio is presently 26.14%.
Franklin Resources Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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