Fox Run Management L.L.C. Buys 13,562 Shares of Franklin Resources, Inc. (NYSE:BEN)

Fox Run Management L.L.C. lifted its stake in Franklin Resources, Inc. (NYSE:BEN) by 46.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,017 shares of the closed-end fund’s stock after buying an additional 13,562 shares during the period. Fox Run Management L.L.C.’s holdings in Franklin Resources were worth $873,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. 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 period. Larson Financial Group LLC lifted its stake in Franklin Resources by 254.4% during the third 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 period. Brooklyn Investment Group bought a new position in Franklin Resources during the third quarter worth about $39,000. Principal Securities Inc. lifted its stake in Franklin Resources by 561.1% during the fourth 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 period. Finally, Anchor Investment Management LLC lifted its stake in 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 period. Institutional investors own 47.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BEN. Wells Fargo & Company raised their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. UBS Group raised their price objective on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Barclays raised their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.86.

Franklin Resources Price Performance

Shares of BEN stock opened at $19.86 on Friday. Franklin Resources, Inc. has a 52-week low of $18.83 and a 52-week high of $28.15. The stock has a market cap of $10.43 billion, a PE ratio of 30.55, a PEG ratio of 2.31 and a beta of 1.42. 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’s 50 day moving average price is $20.10 and its two-hundred day moving average price is $20.56.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (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 period in the previous year, the firm earned $0.65 EPS. As a group, analysts forecast that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

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

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.