5 Highest-Yielding Dividend Aristocrats for 2022

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

Dividend Yield as of May 6: 4.64%

Number of Hedge Fund Holders: 29

Franklin Resources, Inc. (NYSE:BEN) is a public asset management holding company that specializes in equity, fixed income, balanced, and multi-asset mutual funds. Franklin Resources, Inc. (NYSE:BEN) delivers a dividend yield of 4.64% as of May 6. 

On February 23, Franklin Resources, Inc. (NYSE:BEN) declared a $0.29 per share quarterly dividend, a 4.0% increase from its prior dividend of $0.28. The dividend was distributed to shareholders on April 14. The company has been increasing its dividends for 42 consecutive years.

Franklin Resources, Inc. (NYSE:BEN) reported on May 3 its financial results for Q1 2022. The company announced earnings per share of $0.96, beating analysts’ estimates by $0.15. The $2.08 billion revenue also outperformed market consensus by $1.50 million. 

Citi analyst William Katz on April 12 downgraded Franklin Resources, Inc. (NYSE:BEN) to Neutral from Buy with a price target of $28, down from $44.50. Ahead of U.S. asset manager Q1 earnings season, the analyst slashed earnings projections through 2024, lowered 12-month target prices, and restacked his relative sector ranks. The analyst sees higher attrition risk for Franklin Resources, Inc. (NYSE:BEN).

Among the hedge funds tracked by Insider Monkey, 29 funds were bullish on Franklin Resources, Inc. (NYSE:BEN) at the end of December 2021, with collective stakes worth over $401 million. Ken Griffin’s Citadel Investment Group is the largest shareholder of the company, with 3.2 million shares worth $109.4 million.