Franklin Resources, Inc. (NYSE:BEN) Stock Position Raised by Unison Advisors LLC

Unison Advisors LLC lifted its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,849 shares of the closed-end fund’s stock after purchasing an additional 1,232 shares during the period. Unison Advisors LLC’s holdings in Franklin Resources were worth $2,376,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BEN. Asset Management One Co. Ltd. lifted its holdings in shares of Franklin Resources by 1.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 116,064 shares of the closed-end fund’s stock valued at $3,489,000 after purchasing an additional 1,638 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Franklin Resources in the fourth quarter valued at approximately $4,555,000. Allworth Financial LP raised its holdings in shares of Franklin Resources by 15.9% during the 4th quarter. Allworth Financial LP now owns 8,351 shares of the closed-end fund’s stock valued at $249,000 after purchasing an additional 1,144 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Franklin Resources in the fourth quarter worth $203,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Franklin Resources by 15.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,592 shares of the closed-end fund’s stock valued at $554,000 after buying an additional 2,489 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Price Performance

Shares of BEN stock traded up $0.22 during trading hours on Friday, hitting $22.16. The company had a trading volume of 2,979,458 shares, compared to its average volume of 3,732,557. The firm’s fifty day moving average is $22.68 and its 200 day moving average is $24.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.82 and a current ratio of 1.71. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.46 and a beta of 1.43. Franklin Resources, Inc. has a 12 month low of $20.92 and a 12 month high of $30.32.

Franklin Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 5.60%. The ex-dividend date was Friday, June 28th. Franklin Resources’s dividend payout ratio is currently 70.86%.

Insider Buying and Selling at Franklin Resources

In other Franklin Resources news, major shareholder Charles B. Johnson purchased 200,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were acquired at an average cost of $22.80 per share, for a total transaction of $4,560,000.00. Following the transaction, the insider now directly owns 88,703,192 shares in the company, valued at $2,022,432,777.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group cut their price objective on Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods lowered their price target on Franklin Resources from $25.00 to $23.00 and set an “underperform” rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Franklin Resources from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. BMO Capital Markets lowered their price objective on shares of Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Finally, Evercore ISI reduced their price target on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating for the company in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.90.

Franklin Resources Profile

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.