First Trust Advisors LP Has $38.81 Million Stock Position in Franklin Resources, Inc. (NYSE:BEN)

First Trust Advisors LP trimmed its position in Franklin Resources, Inc. (NYSE:BENFree Report) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,302,677 shares of the closed-end fund’s stock after selling 103,087 shares during the quarter. First Trust Advisors LP owned approximately 0.25% of Franklin Resources worth $38,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its position in Franklin Resources by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 19,348 shares of the closed-end fund’s stock worth $576,000 after purchasing an additional 1,278 shares during the period. Peapack Gladstone Financial Corp bought a new position in Franklin Resources during the fourth quarter worth about $211,000. Rafferty Asset Management LLC boosted its holdings in Franklin Resources by 4.5% during the fourth quarter. Rafferty Asset Management LLC now owns 115,335 shares of the closed-end fund’s stock worth $3,436,000 after buying an additional 5,017 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Franklin Resources during the fourth quarter worth about $271,000. Finally, KBC Group NV boosted its holdings in Franklin Resources by 46.3% during the fourth quarter. KBC Group NV now owns 538,858 shares of the closed-end fund’s stock worth $16,053,000 after buying an additional 170,616 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI reduced their target price on Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a report on Tuesday, April 30th. BMO Capital Markets reduced their target price on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. TD Cowen reduced their target price on Franklin Resources from $29.00 to $25.50 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price objective on Franklin Resources from $29.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Finally, Morgan Stanley lifted their price objective on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.00.

View Our Latest Stock Report on Franklin Resources

Franklin Resources Trading Down 1.4 %

NYSE BEN opened at $22.89 on Friday. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 2.01 and a beta of 1.44. The stock’s 50 day moving average price is $24.51 and its two-hundred day moving average price is $26.41. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.82 and a current ratio of 1.82. Franklin Resources, Inc. has a 52 week low of $21.88 and a 52 week high of $30.32.

Franklin Resources (NYSE:BENGet Free Report) last released its earnings results on Monday, April 29th. The closed-end fund reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.66 billion. Franklin Resources had a net margin of 11.09% and a return on equity of 10.82%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, analysts anticipate that Franklin Resources, Inc. will post 2.47 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Friday, June 28th. Franklin Resources’s payout ratio is 70.86%.

Franklin Resources Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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