Keybank National Association OH Takes $203,000 Position in Franklin Resources, Inc. (NYSE:BEN)

Keybank National Association OH bought a new stake in shares of Franklin Resources, Inc. (NYSE:BEN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,029 shares of the closed-end fund’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after acquiring an additional 505 shares in the last quarter. Larson Financial Group LLC lifted its stake in Franklin Resources by 254.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after acquiring an additional 1,277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Franklin Resources in the 3rd quarter worth about $39,000. Principal Securities Inc. lifted its stake in Franklin Resources by 561.1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in Franklin Resources in the 3rd quarter worth about $46,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BEN. The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $22.00 in a research note on Monday, January 6th. Morgan Stanley increased their price objective on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Barclays raised their price target on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company raised their price target on Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.86.

Franklin Resources Stock Performance

Shares of NYSE BEN opened at $19.63 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.31 and a beta of 1.42. The business’s 50-day simple moving average is $20.14 and its 200-day simple moving average is $20.59. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.61.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company posted $0.65 EPS. As a group, equities research analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is currently 196.92%.

Franklin Resources Company 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.