Blackhawk Capital Partners LLC Sells 30,172 Shares of Franklin Resources, Inc. $BEN

Blackhawk Capital Partners LLC decreased its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 29.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,640 shares of the closed-end fund’s stock after selling 30,172 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in Franklin Resources were worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of BEN. Azora Capital LP acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at about $76,051,000. Norges Bank bought a new position in Franklin Resources in the second quarter worth approximately $60,618,000. Holocene Advisors LP acquired a new stake in Franklin Resources in the second quarter valued at approximately $51,384,000. Wedge Capital Management L L P NC bought a new stake in shares of Franklin Resources during the third quarter valued at approximately $32,293,000. Finally, Natixis raised its position in shares of Franklin Resources by 6,959.8% during the second quarter. Natixis now owns 584,414 shares of the closed-end fund’s stock worth $13,938,000 after purchasing an additional 576,136 shares during the period. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Down 1.7%

Shares of NYSE:BEN opened at $25.33 on Friday. Franklin Resources, Inc. has a 1 year low of $16.25 and a 1 year high of $26.25. The company has a market capitalization of $13.21 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.44. The business has a fifty day moving average price of $23.84 and a two-hundred day moving average price of $23.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.40 and a quick ratio of 1.40.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, November 7th. The closed-end fund reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.17 billion. Franklin Resources had a net margin of 5.98% and a return on equity of 9.12%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Tuesday, December 30th were issued a $0.33 dividend. This is a boost from Franklin Resources’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $1.32 annualized dividend and a yield of 5.2%. Franklin Resources’s payout ratio is 145.05%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BEN shares. Weiss Ratings restated a “hold (c+)” rating on shares of Franklin Resources in a report on Monday, December 29th. Bank of America upped their target price on shares of Franklin Resources from $19.00 to $22.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. TD Cowen cut their price target on Franklin Resources from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. JPMorgan Chase & Co. dropped their target price on Franklin Resources from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Finally, BMO Capital Markets started coverage on Franklin Resources in a research report on Friday, October 3rd. They set an “outperform” rating and a $26.00 target price on the stock. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Franklin Resources has an average rating of “Reduce” and an average price target of $24.64.

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.