Mirae Asset Global Investments Co. Ltd. Has $1.59 Million Stake in Franklin Resources, Inc. (NYSE:BEN)

Mirae Asset Global Investments Co. Ltd. lifted its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,046 shares of the closed-end fund's stock after acquiring an additional 25,414 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Franklin Resources were worth $1,592,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BEN. MFA Wealth Advisors LLC purchased a new stake in shares of Franklin Resources in the 3rd quarter valued at approximately $26,000. Larson Financial Group LLC lifted its position in Franklin Resources by 254.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock worth $36,000 after buying an additional 1,277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Franklin Resources in the 3rd quarter worth approximately $39,000. Northwest Investment Counselors LLC purchased a new stake in Franklin Resources in the 3rd quarter worth approximately $41,000. Finally, Blue Trust Inc. lifted its position in Franklin Resources by 124.8% in 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 in the last quarter. Hedge funds and other institutional investors own 47.56% of the company's stock.

Franklin Resources Stock Performance

NYSE:BEN traded up $0.34 during midday trading on Friday, reaching $20.58. The stock had a trading volume of 4,091,617 shares, compared to its average volume of 4,507,344. Franklin Resources, Inc. has a 1-year low of $18.83 and a 1-year high of $28.61. The firm's fifty day simple moving average is $20.48 and its 200-day simple moving average is $20.82. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.63. The stock has a market capitalization of $10.81 billion, a P/E ratio of 31.65, a PEG ratio of 2.14 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 (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 firm posted $0.65 EPS. On average, equities research analysts forecast that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a yield of 6.22%. Franklin Resources's payout ratio is presently 196.93%.

Analysts Set New Price Targets

A number of research firms have issued reports on BEN. TD Cowen cut their target price on shares of Franklin Resources from $20.00 to $18.50 and set a "hold" rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company increased 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, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Franklin Resources from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets increased their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.