Franklin Resources, Inc. $BEN Holdings Trimmed by Lighthouse Investment Partners LLC

robot
Abstract generation in progress

Lighthouse Investment Partners LLC significantly reduced its stake in Franklin Resources, Inc. (NYSE:BEN) by 36.6% in the third quarter, selling 121,931 shares and retaining 211,592 shares valued at approximately $4.89 million. Despite beating EPS estimates with $0.70, Franklin Resources missed revenue expectations at $1.75 billion, while also declaring a quarterly dividend of $0.33, which annualizes to a 5.4% yield but reflects a high payout ratio of 122.22%. Analysts currently hold a “Reduce” consensus rating for the company with a price target of $25.89, indicating mixed sentiments among brokers.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin