Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its position in Franklin Resources, Inc. (NYSE:BEN) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,715 shares of the closed-end fund’s stock after selling 3,679 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Franklin Resources were worth $2,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BEN. Exchange Traded Concepts LLC boosted its position in Franklin Resources by 301.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,074 shares of the closed-end fund’s stock valued at $102,000 after purchasing an additional 3,810 shares during the period. Blue Trust Inc. raised its stake in shares of Franklin Resources by 124.8% in the 3rd quarter. Blue Trust Inc. now owns 2,068 shares of the closed-end fund’s stock worth $46,000 after buying an additional 1,148 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Franklin Resources by 8.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,001 shares of the closed-end fund’s stock worth $302,000 after acquiring an additional 1,195 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Franklin Resources in the 3rd quarter worth $41,000. Finally, Symphony Financial Ltd. Co. acquired a new position in shares of Franklin Resources in the 3rd quarter worth $623,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Trading Down 0.2 %

BEN stock opened at $20.90 on Thursday. The business has a fifty day moving average price of $20.38 and a 200 day moving average price of $20.76. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 2.13 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same period in the previous year, the company posted $0.65 earnings per share. Analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.13%. Franklin Resources’s dividend payout ratio is currently 196.93%.

Analysts Set New Price Targets

BEN has been the topic of a number of research analyst reports. UBS Group lifted their price target on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and increased their target price for the company from $21.00 to $22.00 in a research note on Monday, January 6th. StockNews.com upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley raised their price objective on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.86.

Franklin Resources Profile

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.