Wipfli Financial Advisors LLC Makes New Investment in Franklin Resources, Inc. (NYSE:BEN)

Wipfli Financial Advisors LLC acquired a new position in shares of Franklin Resources, Inc. (NYSE:BENGet Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,896 shares of the closed-end fund’s stock, valued at approximately $41,000.

Other large investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Franklin Resources by 413.2% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,242 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 1,000 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Franklin Resources in the 1st quarter valued at approximately $33,000. Capital Analysts LLC boosted its stake in shares of Franklin Resources by 31.8% in the 2nd quarter. Capital Analysts LLC now owns 1,447 shares of the closed-end fund’s stock valued at $34,000 after purchasing an additional 349 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Franklin Resources in the 3rd quarter valued at approximately $39,000. 45.47% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

NYSE:BEN opened at $29.78 on Wednesday. The company has a fifty day moving average of $27.01 and a 200-day moving average of $25.58. The firm has a market capitalization of $14.90 billion, a P/E ratio of 11.82, a P/E/G ratio of 7.78 and a beta of 1.22. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.72. Franklin Resources, Inc. has a twelve month low of $20.24 and a twelve month high of $35.18.

Franklin Resources (NYSE:BENGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The closed-end fund reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.09. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Franklin Resources had a net margin of 15.61% and a return on equity of 15.16%. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.44 EPS for the current year.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Thursday, December 29th. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.29. Franklin Resources’s payout ratio is 47.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BEN shares. BMO Capital Markets cut their target price on shares of Franklin Resources from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, November 3rd. Wells Fargo & Company started coverage on shares of Franklin Resources in a research report on Wednesday, December 14th. They set an “underweight” rating and a $26.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “sell” rating in a research report on Wednesday, November 23rd. Morgan Stanley cut their target price on shares of Franklin Resources from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, October 20th. Finally, StockNews.com started coverage on shares of Franklin Resources in a report on Wednesday, October 12th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.82.

Insider Buying and Selling at Franklin Resources

In other Franklin Resources news, insider Franklin Resources Inc purchased 53,800 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was acquired at an average price of $4.07 per share, for a total transaction of $218,966.00. Following the purchase, the insider now owns 9,396,777 shares of the company’s stock, valued at approximately $38,244,882.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders acquired 432,860 shares of company stock worth $1,817,244. 23.40% of the stock is owned by corporate insiders.

About Franklin Resources

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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.

Further Reading

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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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