Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 240.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,975 shares of the closed-end fund's stock after acquiring an additional 71,308 shares during the quarter. Wellington Management Group LLP's holdings in Franklin Resources were worth $2,049,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BEN. Norges Bank bought a new stake in shares of Franklin Resources in the 4th quarter worth about $53,676,000. JPMorgan Chase & Co. raised its holdings in shares of Franklin Resources by 263.1% in the third quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund's stock worth $40,744,000 after buying an additional 1,465,148 shares during the period. Amundi grew its position in Franklin Resources by 62.9% in the 4th quarter. Amundi now owns 3,752,326 shares of the closed-end fund's stock valued at $75,928,000 after acquiring an additional 1,449,210 shares during the last quarter. Vanguard Group Inc. increased its stake in Franklin Resources by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund's stock worth $765,254,000 after purchasing an additional 1,095,373 shares during the period. Finally, Vest Financial LLC lifted its position in shares of Franklin Resources by 32.1% during the fourth quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund's stock worth $59,316,000 after purchasing an additional 709,736 shares during the last quarter. 47.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BEN has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of Franklin Resources from $22.00 to $17.00 and set an "underweight" rating for the company in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a research note on Monday, February 3rd. UBS Group boosted their price target on Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley reduced their price objective on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a report on Monday, April 7th. Finally, TD Cowen lowered their target price on Franklin Resources from $20.00 to $17.50 and set a "hold" rating for the company in a report on Wednesday, April 9th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.96.

Franklin Resources Stock Up 0.4 %

NYSE:BEN traded up $0.08 during midday trading on Thursday, reaching $17.63. 1,731,012 shares of the stock traded hands, compared to its average volume of 4,334,408. The stock has a market capitalization of $9.26 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.31 and a beta of 1.36. Franklin Resources, Inc. has a 12-month low of $16.25 and a 12-month high of $25.69. 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 business has a 50-day moving average of $19.43 and a two-hundred day moving average of $20.32.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 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 quarter last year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend was Monday, March 31st. Franklin Resources's payout ratio is currently 196.92%.

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.