Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 48.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,494 shares of the closed-end fund's stock after selling 59,559 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Franklin Resources were worth $1,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BEN. Sigma Planning Corp increased its stake in shares of Franklin Resources by 41.8% during the 4th quarter. Sigma Planning Corp now owns 24,383 shares of the closed-end fund's stock worth $495,000 after purchasing an additional 7,192 shares during the last quarter. ING Groep NV acquired a new position in Franklin Resources in the 4th quarter valued at about $302,000. Hardy Reed LLC grew its stake in Franklin Resources by 3.7% in the 4th quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund's stock valued at $339,000 after buying an additional 591 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Franklin Resources by 160.9% during the 4th quarter. Handelsbanken Fonder AB now owns 69,300 shares of the closed-end fund's stock worth $1,406,000 after purchasing an additional 42,742 shares in the last quarter. Finally, Ieq Capital LLC grew its position in shares of Franklin Resources by 170.3% during the 4th quarter. Ieq Capital LLC now owns 148,750 shares of the closed-end fund's stock worth $3,018,000 after purchasing an additional 93,724 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

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Franklin Resources Trading Up 2.2 %

Shares of Franklin Resources stock traded up $0.45 during trading on Friday, reaching $20.29. The company's stock had a trading volume of 4,121,074 shares, compared to its average volume of 4,248,527. Franklin Resources, Inc. has a 52-week low of $18.83 and a 52-week high of $28.61. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 2.31 and a beta of 1.42. The firm's 50-day moving average is $20.24 and its two-hundred day moving average is $20.68. 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 (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 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 quarter in the previous year, the company posted $0.65 earnings per share. 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. Shareholders 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 6.31%. Franklin Resources's dividend payout ratio (DPR) is presently 196.92%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BEN. StockNews.com raised shares of Franklin Resources from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods increased their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped 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 note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Franklin Resources from $20.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group raised shares of Franklin Resources from a "sell" rating to a "neutral" rating and increased their price objective for the company from $21.00 to $22.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Franklin Resources presently has an average rating of "Hold" and an average 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.