Franklin Resources, Inc. $BEN Stock Position Raised by Cinctive Capital Management LP

Cinctive Capital Management LP raised its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 216.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,361 shares of the closed-end fund’s stock after purchasing an additional 175,328 shares during the period. Cinctive Capital Management LP’s holdings in Franklin Resources were worth $6,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Franklin Resources by 26.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,049 shares of the closed-end fund’s stock worth $2,850,000 after purchasing an additional 30,763 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Franklin Resources by 169.3% in the 1st quarter. Jones Financial Companies Lllp now owns 7,909 shares of the closed-end fund’s stock valued at $152,000 after acquiring an additional 4,972 shares in the last quarter. Woodline Partners LP raised its stake in shares of Franklin Resources by 41.1% in the 1st quarter. Woodline Partners LP now owns 26,189 shares of the closed-end fund’s stock valued at $504,000 after acquiring an additional 7,634 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Franklin Resources in the 2nd quarter valued at approximately $169,000. Finally, California Public Employees Retirement System raised its stake in shares of Franklin Resources by 52.2% in the 2nd quarter. California Public Employees Retirement System now owns 509,171 shares of the closed-end fund’s stock valued at $12,144,000 after acquiring an additional 174,579 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Stock Performance

Shares of NYSE BEN opened at $33.26 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $29.84 and its two-hundred day moving average is $26.75. The company has a market cap of $17.28 billion, a P/E ratio of 25.39, a P/E/G ratio of 0.87 and a beta of 1.55. Franklin Resources, Inc. has a 12 month low of $21.10 and a 12 month high of $34.18.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, topping the consensus estimate of $0.55 by $0.16. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. On average, equities analysts expect that Franklin Resources, Inc. will post 2.74 EPS for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, June 29th. Franklin Resources’s payout ratio is currently 100.76%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays set a $31.00 price objective on Franklin Resources and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their price objective on Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley raised Franklin Resources from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $21.00 to $31.00 in a research note on Wednesday, May 6th. Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings raised Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Franklin Resources Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.