August 8, 2023
Treasurer of the State of North Carolina Increases Holdings in Franklin Resources, Inc.
The Treasurer of the State of North Carolina has recently announced a significant increase in its holdings in Franklin Resources, Inc. (NYSE:BEN), according to a disclosure filed with the Securities and Exchange Commission (SEC). This boost in investment reflects the state’s confidence in the closed-end fund’s potential for growth and profitability.
During the 1st quarter, the Treasurer of the State of North Carolina acquired an additional 4,960 shares of Franklin Resources, bringing its total holdings to 128,824 shares. At the end of this period, these shares were valued at an impressive $3,471,000. This strategic move showcases the state’s commitment to optimizing its investment portfolio by diversifying its assets and capitalizing on promising market opportunities.
Franklin Resources is a renowned financial services company that offers an array of investment products and services globally. With a long-standing history dating back many decades, this firm has built a reputable brand known for delivering consistent results. Their multifaceted approach combines extensive research capabilities with a comprehensive understanding of market trends to generate optimum returns for clients and shareholders alike.
In addition to increasing their holdings in Franklin Resources, The Treasurer of the State of North Carolina can expect further financial benefits from their investment through quarterly dividends. On July 14th, Franklin Resources declared a dividend payout to shareholders recorded on June 30th. This dividend amounted to $0.30 per share which translates into an annual dividend yield of 4.20%. With such attractive dividends on offer, investors have even more reason to be drawn to Franklin Resources as it continues to reward them for their loyalty in monetary terms.
Moreover, it is worth mentioning that Franklin Resources maintains an impressive payout ratio standing at 75.00%. This figure indicates that the company retains only a quarter of its earnings for reinvestment purposes, while the remaining 75% is distributed to shareholders in the form of dividends. This highlights Franklin Resources’ commitment to providing a consistent income stream for its investors and aligns with their efforts to maximize shareholder value.
The Treasurer of the State of North Carolina’s decision to bolster its holdings in Franklin Resources is a testament to its dedication in pursuing investment opportunities that promise long-term success. By strategically diversifying their portfolio and capitalizing on the potential growth offered by Franklin Resources, the state looks set to benefit from this lucrative investment over time.
Overall, this recent development underscores the importance of well-informed investment decisions and showcases how even state-level institutions can actively participate in the financial markets to generate substantial returns. As August progresses, market watchers will likely monitor Franklin Resource’s performance closely, curious about its future trajectory and impact on both investors’ portfolios and the Treasurer of the State of North Carolina.
Disclaimer: The views expressed are those solely belonging to the author and do not necessarily reflect those of any organization or entity mentioned above. Stock investments carry risks, and individuals should conduct thorough research before making any financial decisions.
Investor Confidence and Analyst Ratings for Franklin Resources: A Detailed Look at Recent Developments
August 8, 2023 – In recent months, notable investors have made significant changes to their holdings in Franklin Resources, a leading closed-end fund company. Resurgent Financial Advisors LLC, for instance, has acquired a new stake in the firm during the fourth quarter of the previous fiscal year. The value of this investment is estimated to be $27,000—an interesting move that reflects Resurgent Financial Advisors’ confidence in Franklin Resources’ growth potential.
Similarly, Eagle Bay Advisors LLC entered into a position with Franklin Resources during the second quarter of this year. This strategic move, valued at around $26,000, signifies Eagle Bay Advisors’ belief in the future prospects and benefits associated with investing in Franklin Resources.
Another noteworthy investor is CVA Family Office LLC. This firm has shown remarkable confidence in Franklin Resources by increasing its stake by an impressive 131.5% during the fourth quarter of the previous fiscal year. The additional 815 shares acquired are now valued at approximately $38,000—highlighting CVA Family Office’s belief in the long-term value provided by Franklin Resources.
Clear Street Markets LLC also displayed significant faith in Franklin Resources during the same period by raising its stake by 54.1%. This move reinforces Clear Street Market’s commitment to capitalizing on potential opportunities and reinforces their conviction regarding Franklin Resources’ future growth prospects.
Lastly, Capital Analysts LLC raised its stake in Franklin Resources by 46% during the fourth quarter—an indication of their trust in Franklin Resources as a solid investment opportunity. Capital Analysts now owns 2,218 shares worth approximately $59,000—a substantial increase demonstrating their bullish outlook on the company’s future performance.
Institutional investors and hedge funds collectively own almost half (46.70%) of Franklin Resources’ stock—an impressive percentage suggesting widespread investor interest and support.
Leading brokerages have closely observed these developments and provided valuable insights on investing in Franklin Resources. Morgan Stanley recently reissued an “underweight” rating on Franklin Resources, citing their concerns and setting a target price of $23.00 per share.
In contrast, Wells Fargo & Company revised their target price upward to $26.00—an encouraging forecast that highlights potential increase in the stock’s value.
Similarly, StockNews.com assigned a “hold” rating for Franklin Resources, suggesting a fair balance between potential risks and rewards associated with investing in the company.
Evercore ISI expressed a more skeptical outlook on Franklin Resources, lowering their price objective from $27.00 to $24.00 and indicating an “underperform” rating—a cautionary stance based on their analysis of the company’s performance.
BMO Capital Markets adopted a more positive perspective by raising its price objective on Franklin Resources from $24.00 to $27.00—a reflection of BMO’s optimistic projection for the company’s future prospects.
The various ratings provided by these research analysts paint an interesting picture of investor sentiment towards Franklin Resources. Currently, six research analysts have rated the stock as “sell,” while five have issued a “hold” rating for the company. Based on aggregated data from Bloomberg.com, Franklin Resources’ average rating is a rather disappointing “Reduce,” with a consensus target price of $25.15 per share—a figure that represents mixed sentiments among industry experts.
On August 8th, shares of BEN opened at $28.54—an interesting entry point for potential investors considering Franklin Resources’ recent performance and analyst ratings.
Franklin Resources’ stock has displayed stability over time as it navigated through volatile market conditions characterized by fluctuating economic indicators and evolving market trends. This resilience can be attributed to its consistent performance across various moving averages—for instance, its 50-day simple moving average stands at $27.19, while its 200-day simple moving average is slightly higher at $27.57.
Franklin Resources also exhibits an appealing one-year low of $20.24 and a one-year high of $34.37—spanning a significant range that demonstrates the potential for substantial returns.
With a market capitalization of $14.24 billion, Franklin Resources stands as a prominent player in the closed-end fund industry. Its price-earnings ratio of 17.71 indicates an attractive valuation relative to the broader market, bolstered by a respectable beta value of 1.28—a figure that suggests Franklin Resources’ stock is moderately sensitive to market fluctuations.
Notably, Franklin Resources boasts strong financial fundamentals, with a debt-to-equity ratio of 0.90—an indication of prudent capital management. Furthermore, its current ratio of 2.63 and quick ratio of 1.89 demonstrate its ability to meet short-term obligations efficiently.
Franklin Resources recently announced its earnings results for the quarter ending July 28th, reporting an impressive revenue figure of $1.97 billion—a notable increase from analysts’ expectations of $1.50 billion for the same period last year.
The firm’s performance has gone beyond revenue growth; it also reported earnings per share (EPS) figures that exceeded consensus estimates, achieving $0.63 EPS compared to the projected $0.60 EPS—an encouraging sign that reinforces investor confidence in