Franklin Resources, Inc. (NYSE:BEN) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 33.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 443,641 shares of the closed-end fund's stock after purchasing an additional 112,318 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Franklin Resources worth $9,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC boosted 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 worth $33,000 after purchasing an additional 505 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock valued at $36,000 after purchasing an additional 1,277 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Franklin Resources in the third quarter valued at approximately $39,000. Principal Securities Inc. increased its stake in shares of Franklin Resources by 561.1% during the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock worth $40,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Franklin Resources during the 3rd quarter worth approximately $46,000. 47.56% of the stock is owned by institutional investors and hedge funds.

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Franklin Resources Trading Up 1.2 %

Shares of NYSE BEN traded up $0.25 during midday trading on Wednesday, hitting $20.11. The stock had a trading volume of 2,482,582 shares, compared to its average volume of 3,977,832. 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 1-year low of $18.83 and a 1-year high of $28.15. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.31 and a beta of 1.42. The company has a fifty day moving average price of $20.08 and a 200 day moving average price of $20.56.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $0.65 EPS. On average, analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The business 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 is Monday, March 31st. This represents a $1.28 annualized dividend and a yield of 6.37%. Franklin Resources's dividend payout ratio is currently 196.92%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BEN. The Goldman Sachs Group raised shares of Franklin Resources from a "sell" rating to a "neutral" rating and boosted their target price for the company from $21.00 to $22.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price 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. Wells Fargo & Company increased 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. Finally, UBS Group lifted their price objective on Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, Franklin Resources has an average rating of "Hold" and a consensus price target of $20.86.

About Franklin Resources

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.