Franklin Resources, Inc. (NYSE:BEN) Stock Position Decreased by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lessened its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 39.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,443 shares of the closed-end fund’s stock after selling 2,220 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Franklin Resources were worth $66,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 in the last quarter. Invesco Ltd. grew its holdings in Franklin Resources by 9.4% during the fourth quarter. Invesco Ltd. now owns 11,721,446 shares of the closed-end fund’s stock valued at $237,828,000 after purchasing an additional 1,011,755 shares during the last quarter. ProShare Advisors LLC raised its holdings in Franklin Resources by 19.6% in the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund’s stock worth $190,805,000 after acquiring an additional 1,542,478 shares during the period. First Trust Advisors LP increased its stake in shares of Franklin Resources by 33.1% in the fourth quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund’s stock worth $130,645,000 after purchasing an additional 1,599,849 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Franklin Resources by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,002,950 shares of the closed-end fund’s stock valued at $121,797,000 after acquiring an additional 460,270 shares during the period. 47.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Franklin Resources from $20.00 to $21.50 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Cowen upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. The Goldman Sachs Group upped their price target on Franklin Resources from $19.00 to $21.50 and gave the company a “neutral” rating in a research report on Monday, May 5th. Evercore ISI cut their price target on shares of Franklin Resources from $19.00 to $17.00 and set an “underperform” rating for the company in a report on Friday, April 11th. Finally, Bank of America cut their price target on Franklin Resources from $20.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.25.

Franklin Resources Trading Down 2.0%

Shares of NYSE BEN opened at $22.16 on Friday. The company’s 50 day simple moving average is $20.27 and its 200 day simple moving average is $20.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $11.64 billion, a P/E ratio of 34.09, a P/E/G ratio of 2.31 and a beta of 1.43. Franklin Resources, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $24.37.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. On average, analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, June 27th. Franklin Resources’s dividend payout ratio is currently 188.24%.

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.