Franklin Resources, Inc. (NYSE:BEN) is Vest Financial LLC’s 10th Largest Position

Vest Financial LLC lifted its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 32.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,923,399 shares of the closed-end fund’s stock after buying an additional 709,736 shares during the period. Franklin Resources makes up 1.1% of Vest Financial LLC’s portfolio, making the stock its 10th biggest position. Vest Financial LLC owned about 0.56% of Franklin Resources worth $59,316,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BEN. Global X Japan Co. Ltd. grew its position in Franklin Resources by 39.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 25,714 shares of the closed-end fund’s stock worth $522,000 after purchasing an additional 7,275 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Franklin Resources by 4.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 843,922 shares of the closed-end fund’s stock worth $17,123,000 after acquiring an additional 37,021 shares during the period. Centennial Wealth Advisory LLC increased its position in Franklin Resources by 16.9% during the fourth quarter. Centennial Wealth Advisory LLC now owns 18,848 shares of the closed-end fund’s stock valued at $382,000 after acquiring an additional 2,720 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Franklin Resources by 49.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,046 shares of the closed-end fund’s stock valued at $1,592,000 after acquiring an additional 25,414 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in Franklin Resources by 239.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 35,268 shares of the closed-end fund’s stock valued at $716,000 after acquiring an additional 24,883 shares during the period. 47.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. TD Cowen decreased their price target on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lifted their price target on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods upped their price objective on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their target price on Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average target price of $20.86.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $20.41 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.61. The stock’s 50-day simple moving average is $20.71 and its 200-day simple moving average is $20.92. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.51 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, analysts expect that Franklin Resources, Inc. will post 2.19 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 annualized dividend and a yield of 6.27%. Franklin Resources’s payout ratio is 196.92%.

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.