AustralianSuper Pty Ltd Increases Stock Position in Franklin Resources, Inc. (NYSE:BEN)

AustralianSuper Pty Ltd raised its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680,905 shares of the closed-end fund's stock after buying an additional 39,276 shares during the quarter. AustralianSuper Pty Ltd owned about 0.13% of Franklin Resources worth $13,816,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. MFA Wealth Advisors LLC purchased a new stake in shares of Franklin Resources in the 3rd quarter worth approximately $26,000. Larson Financial Group LLC raised its holdings 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 acquiring an additional 1,277 shares during the last quarter. Brooklyn Investment Group acquired a new position in Franklin Resources during the third quarter worth $39,000. Northwest Investment Counselors LLC purchased a new position in Franklin Resources during the third quarter worth about $41,000. Finally, Blue Trust Inc. increased its stake in Franklin Resources by 124.8% during the 3rd quarter. Blue Trust Inc. now owns 2,068 shares of the closed-end fund's stock worth $46,000 after buying an additional 1,148 shares during the period. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources Stock Performance

Shares of NYSE:BEN traded down $0.05 during trading on Wednesday, reaching $20.90. The company had a trading volume of 2,661,598 shares, compared to its average volume of 4,439,578. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 2.13 and a beta of 1.42. The stock's fifty day moving average price is $20.38 and its 200 day moving average price is $20.76. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61.

Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business posted $0.65 EPS. As a group, equities research analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.13%. Franklin Resources's dividend payout ratio is presently 196.93%.

Analyst Ratings Changes

BEN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Franklin Resources from $20.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, November 5th. TD Cowen lowered their target price on shares of Franklin Resources from $20.00 to $18.50 and set a "hold" rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price target 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. Barclays boosted their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Friday, December 20th. Four investment 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 stock currently has a consensus 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.