Franklin Resources, Inc. $BEN Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama increased its position in Franklin Resources, Inc. (NYSE:BEN) by 1,321.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 915,610 shares of the closed-end fund’s stock after purchasing an additional 851,203 shares during the quarter. Retirement Systems of Alabama owned approximately 0.18% of Franklin Resources worth $29,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fulcrum Asset Management LLP grew its stake in Franklin Resources by 1,004.6% in the third quarter. Fulcrum Asset Management LLP now owns 1,066,671 shares of the closed-end fund’s stock worth $34,855,000 after purchasing an additional 970,103 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Franklin Resources by 10.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,680 shares of the closed-end fund’s stock valued at $802,000 after buying an additional 2,352 shares during the period. Beverly Hills Private Wealth LLC lifted its position in Franklin Resources by 36.0% during the third quarter. Beverly Hills Private Wealth LLC now owns 68,541 shares of the closed-end fund’s stock valued at $2,202,000 after buying an additional 18,158 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Franklin Resources during the 3rd quarter valued at $35,000. Finally, Shepherd Financial Partners LLC bought a new stake in shares of Franklin Resources during the 3rd quarter valued at $248,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Key Franklin Resources News

Here are the key news stories impacting Franklin Resources this week:

• Positive Sentiment: Franklin Templeton raised its fiscal 2029 targets for margins, private markets and ETFs, citing alternative-investment growth and operating efficiency as potential drivers. Article: Franklin Templeton Lifts 2029 Targets
• Positive Sentiment: TD Cowen raised its price target to $44 from $38 and reiterated a “buy” rating, signaling stronger analyst confidence in BEN’s prospects. TD Cowen recommendations
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $38 from $37, while keeping a “market perform” rating. Keefe, Bruyette & Woods recommendations
• Neutral Sentiment: Barclays raised its target to $36 from $34 but maintained an “equal weight” rating, indicating limited conviction in near-term outperformance. Franklin Resources price target raised at Barclays

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BEN shares. TD Cowen increased their price target on shares of Franklin Resources from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $34.00 price objective on shares of Franklin Resources in a report on Monday, August 3rd. Morgan Stanley raised 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 note on Friday, September 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Franklin Resources in a research note on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and an average price target of $36.78.

Franklin Resources Stock Up 1.1%

BEN stock opened at $36.26 on Wednesday. The stock has a market capitalization of $18.42 billion, a P/E ratio of 18.31, a P/E/G ratio of 0.63 and a beta of 1.56. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. Franklin Resources, Inc. has a 1-year low of $21.10 and a 1-year high of $36.79. The business has a fifty day moving average price of $32.65 and a 200-day moving average price of $30.48.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, beating the consensus estimate of $0.77 by $0.17. Franklin Resources had a return on equity of 12.59% and a net margin of 11.42%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm posted $0.67 earnings per share. Franklin Resources’s revenue was up 3.9% compared to the same quarter last year. Equities analysts forecast that Franklin Resources, Inc. will post 3.22 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 annualized dividend and a yield of 3.6%. Franklin Resources’s dividend payout ratio is currently 66.67%.

Franklin Resources Profile

Franklin Resources, Inc. is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts. The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.