Cinctive Capital Management LP Acquires 175,328 Shares of Franklin Resources, Inc. $BEN

Cinctive Capital Management LP boosted its holdings in Franklin Resources, Inc. (NYSE:BEN) by 216.4% during the 4th quarter, HoldingsChannel.com reports. 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 filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Danske Bank A S acquired a new stake in shares of Franklin Resources during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew its holdings in shares of Franklin Resources by 277.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 845 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in shares of Franklin Resources during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Franklin Resources by 129.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock worth $30,000 after purchasing an additional 740 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Franklin Resources during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Price Performance

Shares of BEN stock opened at $33.26 on Thursday. The stock’s fifty day simple moving average is $29.84 and its 200 day simple moving average is $26.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 0.87 and a beta of 1.55. Franklin Resources, Inc. has a one year low of $21.10 and a one year high of $34.18.

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

Franklin Resources Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays set a $31.00 price objective on Franklin Resources and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Evercore reissued an “underperform” rating and set a $32.00 price objective on shares of Franklin Resources in a report on Monday, June 8th. JPMorgan Chase & Co. lifted their price objective on Franklin Resources from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. TD Cowen reaffirmed a “buy” rating on shares of Franklin Resources in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group boosted their price target on Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Franklin Resources Company 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.