Inceptionr LLC Purchases Shares of 59,654 Franklin Resources, Inc. (NYSE:BEN)

Inceptionr LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 59,654 shares of the closed-end fund's stock, valued at approximately $1,210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Franklin Resources during the fourth quarter worth $11,474,000. Arizona State Retirement System boosted its position in shares of Franklin Resources by 0.8% during the 4th quarter. Arizona State Retirement System now owns 83,549 shares of the closed-end fund's stock valued at $1,695,000 after acquiring an additional 651 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Franklin Resources during the 4th quarter valued at about $231,000. Atria Investments Inc purchased a new stake in shares of Franklin Resources in the fourth quarter valued at about $239,000. Finally, Keybank National Association OH acquired a new stake in Franklin Resources during the fourth quarter worth about $203,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Morgan Stanley raised their price objective 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 raised shares of Franklin Resources from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, Barclays lifted 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, Franklin Resources presently has a consensus rating of "Hold" and an average price target of $20.86.

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Franklin Resources Stock Down 1.5 %

Franklin Resources stock traded down $0.30 during mid-day trading on Monday, reaching $20.03. 4,174,904 shares of the company's stock were exchanged, compared to its average volume of 4,265,402. The company has a market cap of $10.52 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.31 and a beta of 1.42. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a twelve month low of $18.83 and a twelve month high of $28.61. The company has a fifty day moving average of $20.16 and a 200-day moving average of $20.60.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 EPS 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 firm earned $0.65 earnings per share. Sell-side analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources's dividend payout ratio (DPR) is presently 196.92%.

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.