Stock Traders Buy High Volume of Franklin Resources Put Options (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN - Get Free Report) was the target of unusually large options trading on Monday. Stock investors purchased 9,664 put options on the company. This is an increase of 509% compared to the typical volume of 1,586 put options.

Franklin Resources Stock Down 0.8 %

BEN traded down $0.16 on Friday, hitting $19.86. 12,327,331 shares of the company were exchanged, compared to its average volume of 4,009,885. The firm has a 50-day moving average price of $20.09 and a two-hundred day moving average price of $20.56. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources has a twelve month low of $18.83 and a twelve month high of $28.15. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42.

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. On average, equities analysts predict that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.45%. Franklin Resources's payout ratio is 196.92%.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BEN. BMO Capital Markets boosted their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. The Goldman Sachs Group upgraded shares of Franklin Resources from a "sell" rating to a "neutral" rating and raised their price target for the stock from $21.00 to $22.00 in a report on Monday, January 6th. 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. JPMorgan Chase & Co. cut their target price on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Morgan Stanley upped their price target on Franklin Resources from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Friday, December 20th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.86.

Hedge Funds Weigh In On Franklin Resources

A number of institutional investors and hedge funds have recently modified their holdings of BEN. CoreCap Advisors LLC raised its stake in Franklin Resources by 147.1% in the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after buying an additional 737 shares in the last quarter. GeoWealth Management LLC raised its position in shares of Franklin Resources by 350.4% during the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock worth $26,000 after acquiring an additional 981 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in 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 worth $33,000 after purchasing an additional 505 shares during the last quarter. Headlands Technologies LLC acquired a new position in Franklin Resources in the fourth quarter valued at approximately $34,000. Finally, Larson Financial Group LLC increased its stake in 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 last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

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.