Franklin Resources, Inc. (NYSE:BEN) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 477,828 shares of the closed-end fund's stock after purchasing an additional 53,598 shares during the quarter. Commonwealth Equity Services LLC owned 0.09% of Franklin Resources worth $9,695,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Franklin Resources by 44.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after acquiring an additional 505 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Franklin Resources by 254.4% during the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock valued at $36,000 after buying an additional 1,277 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Franklin Resources during the third quarter valued at 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 valued at $40,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of Franklin Resources by 30.2% during the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund's stock valued at $52,000 after acquiring an additional 604 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company's stock.

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Franklin Resources Price Performance

Shares of BEN stock traded down $0.16 during mid-day trading on Friday, reaching $19.86. The stock had a trading volume of 12,327,331 shares, compared to its average volume of 4,008,569. Franklin Resources, Inc. has a 12-month low of $18.83 and a 12-month high of $28.15. The company has a market cap of $10.43 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The business has a 50-day simple moving average of $20.10 and a 200 day simple moving average of $20.56. 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 (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 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 quarter last year, the company earned $0.65 EPS. On average, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Monday, March 31st. Franklin Resources's payout ratio is currently 196.92%.

Analysts Set New Price Targets

BEN has been the topic of several research reports. BMO Capital Markets increased their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on Franklin Resources from $20.50 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. UBS Group raised their price objective on Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.