Mather Group LLC. Has $12.63 Million Holdings in Franklin Resources, Inc. (NYSE:BEN)

Mather Group LLC. grew its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 622,215 shares of the closed-end fund's stock after purchasing an additional 21,592 shares during the period. Mather Group LLC. owned approximately 0.12% of Franklin Resources worth $12,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BEN. Sei Investments Co. raised its position in shares of Franklin Resources by 19.9% during the 2nd quarter. Sei Investments Co. now owns 14,098 shares of the closed-end fund's stock worth $315,000 after buying an additional 2,340 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Franklin Resources by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 190,383 shares of the closed-end fund's stock worth $4,255,000 after purchasing an additional 5,774 shares during the period. Creative Planning boosted its stake in Franklin Resources by 6.0% during the 2nd quarter. Creative Planning now owns 19,841 shares of the closed-end fund's stock valued at $443,000 after purchasing an additional 1,131 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Franklin Resources by 46.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 20,591 shares of the closed-end fund's stock valued at $460,000 after purchasing an additional 6,557 shares during the period. Finally, Czech National Bank raised its stake in shares of Franklin Resources by 10.0% in the 3rd quarter. Czech National Bank now owns 62,858 shares of the closed-end fund's stock worth $1,267,000 after buying an additional 5,715 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Stock Down 0.9 %

Shares of NYSE BEN traded down $0.18 during mid-day trading on Friday, reaching $20.41. The company had a trading volume of 2,715,117 shares, compared to its average volume of 4,699,073. The stock has a market capitalization of $10.69 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. Franklin Resources, Inc. has a twelve month low of $18.83 and a twelve month high of $28.61. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The stock's 50 day moving average is $20.71 and its 200-day moving average is $20.92.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.19 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.27%. Franklin Resources's dividend payout ratio (DPR) is 196.93%.

Wall Street Analyst Weigh In

Several brokerages have commented on BEN. StockNews.com upgraded shares of Franklin Resources from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. cut 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. TD Cowen decreased their price target on shares of Franklin Resources from $20.00 to $18.50 and set a "hold" rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley increased their price objective on Franklin Resources from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lifted their target price on Franklin Resources from $20.50 to $24.00 and gave the stock an "equal weight" rating in a report on Monday. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently 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.