Vanguard Group Inc. Raises Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Vanguard Group Inc. grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,715,809 shares of the closed-end fund’s stock after buying an additional 1,095,373 shares during the quarter. Vanguard Group Inc. owned 7.18% of Franklin Resources worth $765,254,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Smartleaf Asset Management LLC raised its position 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 acquiring an additional 505 shares during the period. 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 purchased a new position in Franklin Resources in the 3rd quarter valued at about $39,000. Principal Securities Inc. boosted its holdings in Franklin Resources by 561.1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after buying an additional 1,661 shares during the last quarter. Finally, Anchor Investment Management LLC increased its stake in Franklin Resources by 30.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after buying an additional 604 shares in the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Price Performance

BEN stock opened at $19.27 on Friday. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 52-week low of $18.83 and a 52-week high of $28.08. The business has a fifty day moving average of $20.15 and a two-hundred day moving average of $20.57.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data 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 net margin of 4.32% and a return on equity of 9.45%. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, research analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 dividend on an annualized basis and a yield of 6.64%. Franklin Resources’s dividend payout ratio (DPR) is presently 196.92%.

Analyst Upgrades and Downgrades

BEN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley upped their target price 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. 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. Keefe, Bruyette & Woods upped their price objective 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. Finally, 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 research note on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, Franklin Resources presently has an average rating of “Hold” and a consensus target price of $20.86.

Franklin Resources 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.