5 Dividend Stock Picks of Late Billionaire Michael Price’s MFP Investors

1. Franklin Resources, Inc. (NYSE:BEN)

Number of Hedge Fund Holders: 30
Dividend Yield as of May 25: 4.47%
MFP Investors’ Stake Value: $12,216,000

Franklin Resources, Inc. (NYSE:BEN) is an American holding company that provides investment services to its customers.

In February, Franklin Resources, Inc. (NYSE:BEN) announced its quarterly dividend of $0.29 per share, having raised it by 4% in 2021. The stocks dividend yield, as of May 25, stood at 4.47%. This April, Citigroup set a $28 price target on Franklin Resources, Inc. (NYSE:BEN), with a Neutral rating on the shares.

MFP Investors started building its position in Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter of 2015, purchasing shares worth over $2 million. At the end of Q1 2022, the hedge fund held 437,530 shares in the company, valued at over $12.2 million. The company represented 1.52% of the hedge fund’s portfolio.

By the end of Q1 2022, 30 hedge funds tracked by Insider Monkey held stakes in Franklin Resources, Inc. (NYSE:BEN), with a total value of roughly $250 million. In the previous quarter, 29 hedge funds held shares in the California-based company, valued at 401.1 million.

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