AXQ Capital LP Has $1.81 Million Position in Franklin Resources, Inc. (NYSE:BEN)

AXQ Capital LP boosted its holdings in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,028 shares of the closed-end fund's stock after purchasing an additional 20,704 shares during the quarter. Franklin Resources makes up about 0.8% of AXQ Capital LP's investment portfolio, making the stock its 7th largest holding. AXQ Capital LP's holdings in Franklin Resources were worth $1,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Franklin Resources by 44.5% during the fourth 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 raised its position 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 worth $36,000 after purchasing an additional 1,277 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Franklin Resources during the third quarter valued at $39,000. Principal Securities Inc. boosted its position 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 valued at $40,000 after purchasing an additional 1,661 shares during the period. Finally, Anchor Investment Management LLC increased its stake in Franklin Resources by 30.2% in the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund's stock worth $52,000 after purchasing an additional 604 shares in the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

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Franklin Resources Price Performance

NYSE BEN traded down $0.16 during trading on Wednesday, reaching $19.87. 2,291,996 shares of the company traded hands, compared to its average volume of 4,000,356. Franklin Resources, Inc. has a 1-year low of $18.83 and a 1-year high of $28.15. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 2.31 and a beta of 1.42. The stock's 50 day moving average price is $20.14 and its two-hundred day moving average price is $20.57. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, beating 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 period in the previous year, the business earned $0.65 EPS. As a group, analysts anticipate that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a yield of 6.44%. Franklin Resources's dividend payout ratio (DPR) is presently 196.92%.

Analysts Set New Price Targets

BEN has been the subject of several research analyst reports. Barclays upped their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased 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 note on Thursday, January 16th. The Goldman Sachs Group upgraded Franklin Resources from a "sell" rating to a "neutral" rating and lifted their price target for the company from $21.00 to $22.00 in a report on Monday, January 6th. Wells Fargo & Company boosted 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. Finally, Keefe, Bruyette & Woods raised their target price on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.86.

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.