Sumitomo Mitsui Trust Group Inc. Purchases 37,021 Shares of Franklin Resources, Inc. (NYSE:BEN)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 843,922 shares of the closed-end fund's stock after acquiring an additional 37,021 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Franklin Resources worth $17,123,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new position in Franklin Resources during the 3rd quarter worth approximately $26,000. Larson Financial Group LLC boosted 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 worth $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 3rd quarter worth approximately $39,000. Northwest Investment Counselors LLC acquired a new position in Franklin Resources during the 3rd quarter worth approximately $41,000. Finally, Blue Trust Inc. boosted its position 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 acquiring an additional 1,148 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Stock Performance

Franklin Resources stock traded up $0.34 during mid-day trading on Friday, hitting $20.58. 4,091,617 shares of the company's stock traded hands, compared to its average volume of 4,916,001. The firm has a 50 day simple moving average of $20.45 and a two-hundred day simple moving average of $20.79. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 2.14 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.63.

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 9.45% and a net margin of 4.32%. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, research analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources's dividend payout ratio is currently 196.92%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Friday, December 20th. StockNews.com upgraded Franklin Resources from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. TD Cowen dropped their price objective on Franklin Resources from $20.00 to $18.50 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price objective on Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group upgraded Franklin Resources from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $21.00 to $22.00 in a research note on Monday, January 6th. 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.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.