Franklin Resources, Inc. (NYSE:BEN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,975 shares of the closed-end fund's stock after selling 18,885 shares during the period. New York State Teachers Retirement System owned about 0.06% of Franklin Resources worth $6,168,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of Franklin Resources by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund's stock worth $1,402,000 after purchasing an additional 572 shares during the last quarter. Anchor Investment Management LLC lifted its position in shares of Franklin Resources by 30.2% during the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund's stock worth $52,000 after purchasing an additional 604 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Franklin Resources by 3.2% during the third quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund's stock worth $393,000 after purchasing an additional 609 shares during the last quarter. Blue Trust Inc. lifted its holdings in Franklin Resources by 29.4% in the fourth quarter. Blue Trust Inc. now owns 2,677 shares of the closed-end fund's stock worth $54,000 after acquiring an additional 609 shares during the last quarter. Finally, International Private Wealth Advisors LLC lifted its holdings in Franklin Resources by 5.0% in the fourth quarter. International Private Wealth Advisors LLC now owns 13,518 shares of the closed-end fund's stock worth $274,000 after acquiring an additional 646 shares during the last quarter. Institutional investors own 47.56% of the company's stock.

Franklin Resources Stock Performance

Shares of NYSE:BEN traded down $0.24 during trading hours on Friday, hitting $20.50. The stock had a trading volume of 3,687,646 shares, compared to its average volume of 4,602,237. Franklin Resources, Inc. has a 1-year low of $18.83 and a 1-year high of $28.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.15 and a beta of 1.42. The stock's fifty day simple moving average is $20.30 and its 200 day simple moving average is $20.75.

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

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.25%. Franklin Resources's dividend payout ratio is presently 196.93%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BEN shares. StockNews.com raised shares of Franklin Resources from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. The Goldman Sachs Group raised shares of Franklin Resources from a "sell" rating to a "neutral" rating and raised their target price for the stock from $21.00 to $22.00 in a report on Monday, January 6th. BMO Capital Markets raised their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.86.

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.