Twelve Points Wealth Management LLC Acquires 48,753 Shares of Franklin Resources, Inc. (NYSE:BEN)

Twelve Points Wealth Management LLC raised its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 58.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,569 shares of the closed-end fund’s stock after buying an additional 48,753 shares during the period. Franklin Resources comprises 0.8% of Twelve Points Wealth Management LLC’s portfolio, making the stock its 25th largest holding. Twelve Points Wealth Management LLC’s holdings in Franklin Resources were worth $2,671,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of Franklin Resources during the 1st quarter valued at about $32,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources during the second quarter valued at approximately $27,000. Sentry Investment Management LLC bought a new position in shares of Franklin Resources in the second quarter worth approximately $30,000. Matrix Trust Co bought a new position in shares of Franklin Resources in the third quarter worth approximately $29,000. Finally, Trust Co. of Vermont bought a new stake in shares of Franklin Resources during the 4th quarter valued at $45,000. 47.56% of the stock is currently owned by institutional investors.

Insider Transactions at Franklin Resources

In other Franklin Resources news, insider Franklin Resources Inc sold 7,657 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $43.90, for a total transaction of $336,142.30. Following the transaction, the insider now owns 65,862 shares of the company’s stock, valued at approximately $2,891,341.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jennifer M. Johnson acquired 12,700 shares of Franklin Resources stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the purchase, the chief executive officer now directly owns 2,637,700 shares in the company, valued at $51,857,182. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Franklin Resources Inc sold 7,657 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $43.90, for a total transaction of $336,142.30. Following the sale, the insider now directly owns 65,862 shares of the company’s stock, valued at $2,891,341.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 231,600 shares of company stock valued at $4,537,637. 24.13% of the stock is currently owned by corporate insiders.

Franklin Resources Trading Up 1.4 %

BEN stock opened at $20.54 on Thursday. Franklin Resources, Inc. has a 12 month low of $18.94 and a 12 month high of $30.32. The firm’s 50-day moving average is $20.49 and its 200 day moving average is $22.54. The company has a market capitalization of $10.80 billion, a PE ratio of 11.73, a P/E/G ratio of 2.29 and a beta of 1.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.71 and a quick ratio of 1.71.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. On average, research analysts anticipate that Franklin Resources, Inc. will post 2.4 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 6.04%. The ex-dividend date was Monday, September 30th. Franklin Resources’s dividend payout ratio is 70.86%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Barclays reduced their price objective on Franklin Resources from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their target price on Franklin Resources from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. BMO Capital Markets cut their target price on shares of Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a report on Monday, July 29th. Finally, Evercore ISI decreased their price target on shares of Franklin Resources from $20.00 to $19.00 and set an “underperform” rating on the stock in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.33.

About Franklin Resources

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.