Short Interest in Franklin Resources, Inc. (NYSE:BEN) Grows By 7.0%

Franklin Resources, Inc. (NYSE:BEN) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 21,870,000 shares, an increase of 7.0% from the March 15th total of 20,440,000 shares. Approximately 7.7% of the company’s shares are sold short. Based on an average daily volume of 3,360,000 shares, the short-interest ratio is currently 6.5 days.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $24.94 on Tuesday. Franklin Resources has a 1-year low of $21.88 and a 1-year high of $30.32. The business has a 50-day moving average of $27.21 and a 200-day moving average of $26.29. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.33 and a beta of 1.40.

Franklin Resources (NYSE:BEN) last issued its earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Resources will post 2.52 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Wednesday, March 27th. Franklin Resources’s payout ratio is 65.26%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BEN shares. TD Cowen started coverage on Franklin Resources in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. UBS Group boosted their price target on Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. BMO Capital Markets boosted their price target on Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Finally, StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.39.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vest Financial LLC lifted its stake in shares of Franklin Resources by 53.6% in the fourth quarter. Vest Financial LLC now owns 1,188,199 shares of the closed-end fund’s stock worth $35,396,000 after acquiring an additional 414,826 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Franklin Resources by 13.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 966,212 shares of the closed-end fund’s stock worth $23,749,000 after acquiring an additional 110,806 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Franklin Resources by 7.2% in the third quarter. New Mexico Educational Retirement Board now owns 14,873 shares of the closed-end fund’s stock worth $366,000 after acquiring an additional 1,000 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Franklin Resources by 12.1% in the third quarter. Deutsche Bank AG now owns 981,103 shares of the closed-end fund’s stock worth $24,116,000 after acquiring an additional 106,129 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Franklin Resources by 383.1% in the third quarter. Nisa Investment Advisors LLC now owns 502,840 shares of the closed-end fund’s stock worth $12,360,000 after acquiring an additional 398,745 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

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.