Mutual of America Capital Management LLC Sells 983 Shares of Franklin Resources, Inc. (NYSE:BEN)

Mutual of America Capital Management LLC reduced its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,014 shares of the closed-end fund’s stock after selling 983 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Franklin Resources were worth $751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BEN. Larson Financial Group LLC increased its position in shares of Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 1,277 shares in the last quarter. Brooklyn Investment Group bought a new stake in Franklin Resources during the third quarter worth about $39,000. Principal Securities Inc. increased its holdings in shares of Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after buying an additional 1,661 shares in the last quarter. Assetmark Inc. bought a new position in shares of Franklin Resources in the third quarter valued at approximately $46,000. Finally, Anchor Investment Management LLC boosted its holdings in shares of Franklin Resources by 30.2% in the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after acquiring an additional 604 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

Franklin Resources stock opened at $20.33 on Monday. The company has a market cap of $10.68 billion, a PE ratio of 31.27, a PEG 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. Franklin Resources, Inc. has a 1 year low of $18.83 and a 1 year high of $28.61. The company’s 50-day moving average is $20.16 and its two-hundred day moving average is $20.60.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share 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 last year, the company earned $0.65 EPS. Equities analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current 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 6.30%. Franklin Resources’s dividend payout ratio is currently 196.92%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BEN shares. The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and raised their price target for the company from $21.00 to $22.00 in a report on Monday, January 6th. BMO Capital Markets raised their target price on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. 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. Wells Fargo & Company increased their price objective on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, Barclays boosted their target price 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. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, Franklin Resources currently has a consensus rating of “Hold” and a consensus target price of $20.86.

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.