Synovus Financial Corp Has $513,000 Position in Franklin Resources, Inc. (BEN)

Synovus Financial Corp lifted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 148.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,458 shares of the closed-end fund’s stock after buying an additional 6,844 shares during the period. Synovus Financial Corp’s holdings in Franklin Resources were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BEN. Conning Inc. boosted its position in shares of Franklin Resources by 0.9% during the 2nd quarter. Conning Inc. now owns 8,696 shares of the closed-end fund’s stock worth $389,000 after purchasing an additional 80 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Franklin Resources by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 40,840 shares of the closed-end fund’s stock worth $1,721,000 after purchasing an additional 104 shares during the period. Nicholas Hoffman & Company LLC. boosted its position in shares of Franklin Resources by 0.9% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 13,835 shares of the closed-end fund’s stock worth $583,000 after purchasing an additional 130 shares during the period. NGAM Advisors L.P. boosted its position in shares of Franklin Resources by 0.6% during the 2nd quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock worth $1,134,000 after purchasing an additional 148 shares during the period. Finally, Boston Family Office LLC boosted its position in shares of Franklin Resources by 3.0% during the 2nd quarter. Boston Family Office LLC now owns 5,115 shares of the closed-end fund’s stock worth $229,000 after purchasing an additional 150 shares during the period. 44.96% of the stock is owned by hedge funds and other institutional investors.

BEN has been the subject of a number of research analyst reports. BidaskClub raised shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company cut shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research report on Monday, July 24th. Deutsche Bank AG increased their price objective on shares of Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a research report on Sunday, September 3rd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Franklin Resources currently has an average rating of “Hold” and an average price target of $44.09.

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Shares of Franklin Resources, Inc. (NYSE BEN) opened at 42.89 on Friday. The stock has a 50 day moving average of $42.65 and a 200-day moving average of $43.09. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 13.96 and a beta of 1.73. Franklin Resources, Inc. has a one year low of $33.02 and a one year high of $47.65.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Resources, Inc. will post $2.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. Franklin Resources’s dividend payout ratio (DPR) is 26.14%.

About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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

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