ORG Partners LLC Has $197,000 Position in Franklin Resources, Inc. (NYSE:BEN)

ORG Partners LLC increased its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 1,583.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,889 shares of the closed-end fund’s stock after buying an additional 8,361 shares during the quarter. ORG Partners LLC’s holdings in Franklin Resources were worth $197,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in Franklin Resources during the first quarter worth $710,000. Hsbc Holdings PLC lifted its stake in Franklin Resources by 26.3% during the fourth quarter. Hsbc Holdings PLC now owns 708,050 shares of the closed-end fund’s stock worth $21,093,000 after purchasing an additional 147,497 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Franklin Resources in the 1st quarter valued at $1,538,000. Norges Bank bought a new position in shares of Franklin Resources in the 4th quarter valued at $49,547,000. Finally, SG Americas Securities LLC lifted its stake in shares of Franklin Resources by 583.8% in the 1st quarter. SG Americas Securities LLC now owns 199,225 shares of the closed-end fund’s stock valued at $5,600,000 after acquiring an additional 170,089 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Trading Up 0.7 %

Franklin Resources stock traded up $0.15 during trading hours on Wednesday, reaching $22.02. 2,210,921 shares of the company’s stock were exchanged, compared to its average volume of 3,707,680. The company has a quick ratio of 1.82, a current ratio of 1.71 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $22.61 and its 200 day simple moving average is $24.75. The firm has a market capitalization of $11.58 billion, a PE ratio of 12.57, a PEG ratio of 2.46 and a beta of 1.43. Franklin Resources, Inc. has a twelve month low of $20.92 and a twelve month high of $30.32.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.31 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.24 annualized dividend and a dividend yield of 5.63%. Franklin Resources’s dividend payout ratio is presently 70.86%.

Analyst Ratings Changes

A number of brokerages have recently commented on BEN. TD Cowen increased their price target on Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a research note 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 for the company in a research note on Monday, July 29th. BMO Capital Markets dropped their price target on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Evercore ISI dropped their price target on Franklin Resources from $29.00 to $26.00 and set an “underperform” rating for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods lowered their target price on Franklin Resources from $25.00 to $23.00 and set an “underperform” rating for the company in a research report on Monday, July 29th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Franklin Resources currently has a consensus rating of “Hold” and an average target price of $24.90.

Insider Activity

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

Franklin Resources Company 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.