Charles Schwab Investment Management Inc. Boosts Stake in Franklin Resources, Inc. (NYSE:BEN)

Charles Schwab Investment Management Inc. raised its position in Franklin Resources, Inc. (NYSE:BEN) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,097,979 shares of the closed-end fund’s stock after buying an additional 99,405 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of Franklin Resources worth $62,858,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BEN. JPMorgan Chase & Co. increased its stake in Franklin Resources by 263.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock valued at $40,744,000 after buying an additional 1,465,148 shares during the last quarter. Vest Financial LLC increased its stake in Franklin Resources by 32.1% in the 4th quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund’s stock valued at $59,316,000 after buying an additional 709,736 shares during the last quarter. State Street Corp increased its stake in Franklin Resources by 2.9% in the 3rd quarter. State Street Corp now owns 21,155,516 shares of the closed-end fund’s stock valued at $432,730,000 after buying an additional 599,045 shares during the last quarter. Two Sigma Advisers LP increased its stake in Franklin Resources by 76.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,290,200 shares of the closed-end fund’s stock valued at $25,998,000 after buying an additional 560,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Franklin Resources by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,334,601 shares of the closed-end fund’s stock worth $147,312,000 after purchasing an additional 422,688 shares during the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Down 2.0 %

Franklin Resources stock opened at $19.24 on Thursday. Franklin Resources, Inc. has a 1-year low of $18.83 and a 1-year high of $28.16. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 2.31 and a beta of 1.42. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a 50 day simple moving average of $20.12 and a 200 day simple moving average of $20.58.

Franklin Resources (NYSE:BEN) last announced its quarterly 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 net margin of 4.32% and a return on equity of 9.45%. During the same period in the prior year, the business posted $0.65 earnings per share. On average, analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.92%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BEN shares. JPMorgan Chase & Co. decreased their price target on shares of 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 shares of Franklin Resources from a “sell” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $22.00 in a research note on Monday, January 6th. StockNews.com upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Barclays raised their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” 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. According to MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and a consensus price target 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.