Atria Investments Inc acquired a new position in Franklin Resources, Inc. (NYSE:BEN – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,785 shares of the closed-end fund’s stock, valued at approximately $239,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Franklin Resources by 263.1% during the third quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock worth $40,744,000 after buying an additional 1,465,148 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Franklin Resources by 44.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock worth $60,421,000 after acquiring an additional 925,590 shares in the last quarter. Vest Financial LLC grew its holdings in shares of 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 worth $59,316,000 after acquiring an additional 709,736 shares during the period. 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 purchasing an additional 599,045 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Franklin Resources by 76.7% during the third quarter. Two Sigma Advisers LP now owns 1,290,200 shares of the closed-end fund’s stock worth $25,998,000 after purchasing an additional 560,000 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.
Franklin Resources Price Performance
Shares of NYSE:BEN opened at $19.87 on Wednesday. The business has a fifty day simple moving average of $20.08 and a 200-day simple moving average of $20.56. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.15. The company has a market cap of $10.43 billion, a P/E ratio of 30.56, a P/E/G ratio of 2.31 and a beta of 1.42.
Franklin Resources Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a yield of 6.44%. Franklin Resources’s payout ratio is 196.92%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on BEN. Keefe, Bruyette & Woods raised their price target on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Barclays increased their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Morgan Stanley lifted 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. Finally, 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 report on Monday, January 6th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, Franklin Resources presently has an average rating of “Hold” and an average target price of $20.86.
View Our Latest Research Report on BEN
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.
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