Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC increased its holdings in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 105.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,791 shares of the closed-end fund's stock after purchasing an additional 18,903 shares during the quarter. Kestra Investment Management LLC's holdings in Franklin Resources were worth $746,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BEN. MFA Wealth Advisors LLC acquired a new stake in Franklin Resources in the 3rd quarter valued at $26,000. Larson Financial Group LLC raised its position in shares of 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 purchasing an additional 1,277 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Franklin Resources during the 3rd quarter worth about $39,000. Principal Securities Inc. raised its position in shares of Franklin Resources by 561.1% during the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock worth $40,000 after purchasing an additional 1,661 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Franklin Resources during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Trading Down 1.1 %

BEN stock traded down $0.24 during midday trading on Friday, hitting $20.50. 3,687,646 shares of the company's stock were exchanged, compared to its average volume of 4,391,945. The business has a 50-day simple moving average of $20.33 and a two-hundred day simple moving average of $20.76. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $10.77 billion, a PE ratio of 31.53, a P/E/G ratio of 2.17 and a beta of 1.42. Franklin Resources, Inc. has a 1-year low of $18.83 and a 1-year high of $28.61.

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, topping analysts' consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same quarter last year, the firm posted $0.65 EPS. On average, sell-side analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a yield of 6.25%. Franklin Resources's dividend payout ratio (DPR) is 196.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BEN. Deutsche Bank Aktiengesellschaft lowered their price target on Franklin Resources from $20.00 to $19.00 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. Barclays increased their target price 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. UBS Group increased their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Franklin Resources from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley increased their target price on shares of Franklin Resources from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.