Fox Run Management L.L.C. Raises Holdings in Franklin Resources, Inc. (NYSE:BEN)

Fox Run Management L.L.C. boosted its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 46.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,017 shares of the closed-end fund's stock after purchasing an additional 13,562 shares during the period. Fox Run Management L.L.C.'s holdings in Franklin Resources were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Franklin Resources by 263.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund's stock valued at $40,744,000 after buying an additional 1,465,148 shares during the period. Amundi raised its position in Franklin Resources by 62.9% during the fourth quarter. Amundi now owns 3,752,326 shares of the closed-end fund's stock valued at $75,928,000 after acquiring an additional 1,449,210 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Franklin Resources by 44.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund's stock worth $60,421,000 after purchasing an additional 925,590 shares in the last quarter. Vest Financial LLC grew its stake in shares of Franklin Resources by 32.1% during the 4th quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund's stock worth $59,316,000 after purchasing an additional 709,736 shares during the period. Finally, State Street Corp increased its holdings in shares of Franklin Resources by 2.9% during the 3rd quarter. State Street Corp now owns 21,155,516 shares of the closed-end fund's stock valued at $432,730,000 after purchasing an additional 599,045 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Franklin Resources Price Performance

BEN stock traded down $0.02 during mid-day trading on Thursday, reaching $19.85. The company's stock had a trading volume of 2,496,311 shares, compared to its average volume of 3,988,164. The stock has a market cap of $10.42 billion, a PE ratio of 30.53, a P/E/G ratio of 2.31 and a beta of 1.42. The company's 50 day moving average is $20.14 and its two-hundred day moving average is $20.57. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.15. 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 announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping 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 in the prior year, the business earned $0.65 EPS. Equities research analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The company 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 dividend of $0.32 per share. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.45%. Franklin Resources's payout ratio is 196.92%.

Analysts Set New Price Targets

Several analysts recently commented on BEN shares. Wells Fargo & Company raised their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Barclays lifted their price target on Franklin Resources from $19.00 to $22.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. BMO Capital Markets increased their price target on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. UBS Group boosted 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. Finally, The Goldman Sachs Group upgraded Franklin Resources from a "sell" rating to a "neutral" rating and increased their target price for the company from $21.00 to $22.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.