Short Interest in Franklin Resources, Inc. (NYSE:BEN) Grows By 6.7%

Franklin Resources, Inc. (NYSE:BEN - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 25,150,000 shares, a growth of 6.7% from the December 31st total of 23,560,000 shares. Based on an average trading volume of 4,010,000 shares, the days-to-cover ratio is presently 6.3 days. Currently, 9.0% of the shares of the stock are short sold.

Franklin Resources Trading Down 0.9 %

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

Franklin Resources (NYSE:BEN - Get Free Report) last posted its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same quarter in the prior year, the business posted $0.65 EPS. Equities research analysts predict that Franklin Resources will post 2.19 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.27%. The ex-dividend date is Monday, March 31st. Franklin Resources's dividend payout ratio is currently 196.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Monday. JPMorgan Chase & Co. dropped their target price on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. UBS Group lifted their price target on Franklin Resources from $19.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Barclays increased 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.86.

Institutional Trading of Franklin Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MFA Wealth Advisors LLC bought a new stake in Franklin Resources during the third quarter worth about $26,000. Matrix Trust Co bought a new stake in shares of Franklin Resources in the 3rd quarter worth approximately $29,000. Smartleaf Asset Management LLC grew its stake in shares of Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock worth $33,000 after buying an additional 505 shares during the last quarter. Larson Financial Group LLC increased its position in Franklin Resources by 254.4% during the 3rd 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 in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Franklin Resources during the third quarter valued at $39,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

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.