Franklin Resources, Inc. (NYSE:BEN) Stock Holdings Lifted by National Bank of Canada FI

National Bank of Canada FI raised its stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 95.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,964 shares of the closed-end fund's stock after purchasing an additional 83,218 shares during the period. National Bank of Canada FI's holdings in Franklin Resources were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEN. Wealth Enhancement Advisory Services LLC raised its position in Franklin Resources by 28.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 38,216 shares of the closed-end fund's stock worth $854,000 after acquiring an additional 8,406 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Franklin Resources by 10.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,980 shares of the closed-end fund's stock worth $268,000 after purchasing an additional 1,143 shares during the period. Gradient Investments LLC grew its stake in Franklin Resources by 8,054.3% during the second quarter. Gradient Investments LLC now owns 2,854 shares of the closed-end fund's stock worth $64,000 after buying an additional 2,819 shares during the period. Raymond James & Associates increased its holdings in Franklin Resources by 14.6% in the 2nd quarter. Raymond James & Associates now owns 128,240 shares of the closed-end fund's stock valued at $2,866,000 after purchasing an additional 16,347 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Franklin Resources by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 53,778 shares of the closed-end fund's stock valued at $1,202,000 after buying an additional 1,258 shares during the period. Institutional investors and hedge funds own 47.56% of the company's stock.

Insiders Place Their Bets

In other Franklin Resources news, insider Franklin Resources Inc sold 7,900 shares of the business's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $43.71, for a total value of $345,309.00. Following the sale, the insider now directly owns 36,519 shares in the company, valued at approximately $1,596,245.49. The trade was a 17.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 24,024 shares of company stock worth $1,051,375 over the last ninety days. Company insiders own 24.13% of the company's stock.

Franklin Resources Stock Performance

Shares of BEN traded down $0.13 during mid-day trading on Friday, reaching $21.97. 2,497,004 shares of the company's stock traded hands, compared to its average volume of 4,020,594. Franklin Resources, Inc. has a 12 month low of $18.94 and a 12 month high of $30.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $11.50 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The business's 50-day moving average price is $21.30 and its 200-day moving average price is $21.61.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. Franklin Resources's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Equities analysts predict that Franklin Resources, Inc. will post 2.39 earnings per share for the current year.

Franklin Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be issued a dividend of $0.32 per share. This is a boost from Franklin Resources's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.28 annualized dividend and a yield of 5.83%. Franklin Resources's payout ratio is presently 148.84%.

Analyst Ratings Changes

Several research firms recently commented on BEN. The Goldman Sachs Group cut their price target on Franklin Resources from $23.75 to $21.25 and set a "sell" rating on the stock in a research note on Monday, September 30th. Barclays upped their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an "underweight" rating in a report on Monday, December 9th. Evercore ISI decreased their price objective on shares of Franklin Resources from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. cut their target price on shares of Franklin Resources from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded Franklin Resources from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $20.66.

About Franklin Resources

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.