Xponance Inc. Has $1.26 Million Position in Franklin Resources, Inc. (NYSE:BEN)

Xponance Inc. lessened its holdings in Franklin Resources, Inc. (NYSE:BEN) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,266 shares of the closed-end fund’s stock after selling 7,355 shares during the period. Xponance Inc.’s holdings in Franklin Resources were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Franklin Resources by 6.8% in the third quarter. Invesco Ltd. now owns 6,563,774 shares of the closed-end fund’s stock valued at $161,338,000 after purchasing an additional 415,512 shares during the period. Northern Trust Corp raised its holdings in Franklin Resources by 7.1% in the 3rd quarter. Northern Trust Corp now owns 3,053,751 shares of the closed-end fund’s stock valued at $75,061,000 after acquiring an additional 202,288 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Franklin Resources by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,840,863 shares of the closed-end fund’s stock valued at $45,248,000 after acquiring an additional 14,896 shares during the period. Barclays PLC lifted its position in Franklin Resources by 138.0% during the third quarter. Barclays PLC now owns 1,750,779 shares of the closed-end fund’s stock worth $43,034,000 after acquiring an additional 1,015,225 shares during the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of Franklin Resources by 53.6% during 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 during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Up 0.1 %

Shares of NYSE:BEN opened at $25.35 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.92 and a current ratio of 1.92. The company has a fifty day moving average of $26.96 and a 200-day moving average of $26.33. Franklin Resources, Inc. has a 52-week low of $21.88 and a 52-week high of $30.32. The company has a market capitalization of $13.35 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.34 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 analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.51 billion. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, equities analysts predict that Franklin Resources, Inc. will post 2.52 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Wednesday, March 27th. Franklin Resources’s dividend payout ratio (DPR) is currently 65.26%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen initiated coverage on Franklin Resources in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Morgan Stanley lifted their price objective on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Wells Fargo & Company upgraded shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $24.00 to $30.00 in a research report on Monday, January 8th. Finally, BMO Capital Markets lifted their price target on shares of Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Franklin Resources has an average rating of “Hold” and an average price target of $27.50.

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.