Summit Trail Advisors LLC Has $312,000 Holdings in Franklin Resources, Inc. (NYSE:BEN)

Summit Trail Advisors LLC boosted its position in Franklin Resources, Inc. (NYSE:BEN) by 30.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,469 shares of the closed-end fund’s stock after buying an additional 2,415 shares during the period. Summit Trail Advisors LLC’s holdings in Franklin Resources were worth $312,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Franklin Resources by 240.5% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after purchasing an additional 623 shares during the period. Peoples Bank KS acquired a new position in Franklin Resources in the third quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV bought a new position in shares of Franklin Resources during the 4th quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV grew its position in shares of Franklin Resources by 149.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock worth $33,000 after buying an additional 665 shares during the period. Finally, Tobam grew its position in shares of Franklin Resources by 2,170.0% during the 4th quarter. Tobam now owns 1,135 shares of the closed-end fund’s stock worth $34,000 after buying an additional 1,085 shares during the period. Institutional investors own 47.56% of the company’s stock.

Analyst Upgrades and Downgrades

BEN has been the topic of several research analyst reports. Evercore ISI cut their target price on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley raised their target price on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. UBS Group upped their price target on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. StockNews.com cut Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, BMO Capital Markets lowered their target price on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Franklin Resources has a consensus rating of “Hold” and a consensus target price of $26.00.

Franklin Resources Stock Performance

Shares of Franklin Resources stock opened at $23.05 on Wednesday. The company has a market cap of $12.13 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.90. Franklin Resources, Inc. has a 52 week low of $21.88 and a 52 week high of $30.32. The business has a 50 day moving average price of $26.32 and a 200-day moving average price of $26.38.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Monday, April 29th. The closed-end fund reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Franklin Resources, Inc. will post 2.47 earnings per share for the current fiscal year.

About Franklin Resources

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.