Independent Advisor Alliance decreased its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 37.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,922 shares of the closed-end fund's stock after selling 26,540 shares during the period. Independent Advisor Alliance's holdings in Franklin Resources were worth $911,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Franklin Resources by 44.5% in 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 during the period. Larson Financial Group LLC boosted its holdings in shares of Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock valued at $36,000 after purchasing an additional 1,277 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Franklin Resources in the third quarter valued at approximately $39,000. Principal Securities Inc. boosted its holdings in shares of Franklin Resources by 561.1% in the fourth 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, Assetmark Inc. purchased a new stake in shares of Franklin Resources in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 47.56% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on BEN shares. Keefe, Bruyette & Woods upped their target price on Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Monday, February 3rd. BMO Capital Markets upped their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Barclays upped their target price on Franklin Resources from $19.00 to $22.00 and gave the stock an "underweight" rating in a report on Monday, February 3rd. Morgan Stanley upped their target price on Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Friday, December 20th. Finally, UBS Group upped their target price on Franklin Resources from $19.00 to $23.00 and gave the stock a "neutral" rating in a 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 stock. According to data from MarketBeat.com, Franklin Resources has an average rating of "Hold" and an average target price of $20.86.
Check Out Our Latest Stock Analysis on BEN
Franklin Resources Price Performance
NYSE BEN opened at $19.56 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. The stock's fifty day moving average price is $20.08 and its 200 day moving average price is $20.56. 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 $10.27 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.31 and a beta of 1.42.
Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the business posted $0.65 EPS. As a group, equities research analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current 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 given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Monday, March 31st. Franklin Resources's payout ratio is 196.92%.
Franklin Resources Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Resources, Inc. (NYSE:BEN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Franklin Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Resources wasn't on the list.
While Franklin Resources currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
