Tredje AP fonden Sells 22,508 Shares of Franklin Resources, Inc. (NYSE:BEN)

Tredje AP fonden decreased its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,508 shares of the closed-end fund's stock after selling 22,508 shares during the quarter. Tredje AP fonden's holdings in Franklin Resources were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BEN. Smartleaf Asset Management LLC increased its stake in Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after purchasing an additional 505 shares in the last quarter. Larson Financial Group LLC grew 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 buying an additional 1,277 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Franklin Resources during the third quarter worth about $39,000. Principal Securities Inc. raised its holdings in shares of Franklin Resources by 561.1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock worth $40,000 after acquiring an additional 1,661 shares during the last quarter. Finally, Assetmark Inc. bought a new position in Franklin Resources in the 3rd quarter valued at about $46,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BEN has been the subject of several analyst reports. BMO Capital Markets increased their price objective on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. The Goldman Sachs Group upgraded shares of 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 report on Monday, January 6th. Barclays upped their price objective on Franklin Resources from $19.00 to $22.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.86.

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Franklin Resources Stock Performance

Shares of NYSE:BEN traded up $0.25 during midday trading on Wednesday, reaching $20.11. 2,482,582 shares of the company traded hands, compared to its average volume of 3,977,832. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.15. The firm's fifty day moving average price is $20.08 and its two-hundred day moving average price is $20.56. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings data 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 9.45%. During the same period last year, the company earned $0.65 earnings per share. On average, equities analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

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 issued a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.37%. Franklin Resources's payout ratio is currently 196.92%.

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.