133,715 Shares in Franklin Resources, Inc. (NYSE:BEN) Bought by Dupree Financial Group LLC

Dupree Financial Group LLC acquired a new position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 133,715 shares of the closed-end fund's stock, valued at approximately $2,713,000. Franklin Resources comprises approximately 1.2% of Dupree Financial Group LLC's holdings, making the stock its 28th largest position.

A number of other large investors have also recently made changes to their positions in the business. MFA Wealth Advisors LLC bought a new stake in Franklin Resources during the third quarter worth $26,000. Matrix Trust Co purchased a new position in Franklin Resources during the 3rd quarter worth $29,000. Larson Financial Group LLC grew its stake in shares of Franklin Resources by 254.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock worth $36,000 after acquiring an additional 1,277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Franklin Resources in the third quarter valued at about $39,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Franklin Resources during the third quarter valued at about $41,000. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

NYSE BEN traded down $0.18 during trading on Friday, hitting $20.41. 3,543,973 shares of the company's stock traded hands, compared to its average volume of 4,763,254. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.51 and a beta of 1.42. Franklin Resources, Inc. has a 12-month low of $18.83 and a 12-month high of $28.61. The business has a 50 day moving average of $20.71 and a 200-day moving average of $20.92.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings results 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 net margin of 4.32% and a return on equity of 9.41%. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, equities research analysts anticipate that Franklin Resources, Inc. will post 2.19 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

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 issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date is Monday, March 31st. Franklin Resources's payout ratio is currently 196.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. TD Cowen reduced their target price on Franklin Resources from $20.00 to $18.50 and set a "hold" rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded Franklin Resources from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. The Goldman Sachs Group raised Franklin Resources from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised 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. Four 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 an average rating of "Hold" and a consensus target price 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.