Commonwealth Equity Services LLC Increases Holdings in Franklin Resources, Inc. (NYSE:BEN)

Commonwealth Equity Services LLC boosted its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 477,828 shares of the closed-end fund’s stock after buying an additional 53,598 shares during the period. Commonwealth Equity Services LLC owned 0.09% of Franklin Resources worth $9,695,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after buying an additional 505 shares during the last quarter. Larson Financial Group LLC grew its position in Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after acquiring an additional 1,277 shares during the period. Brooklyn Investment Group acquired a new stake in Franklin Resources during the third quarter worth $39,000. Principal Securities Inc. raised its position in Franklin Resources by 561.1% in the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after purchasing an additional 1,661 shares during the period. Finally, Anchor Investment Management LLC lifted its stake in shares of Franklin Resources by 30.2% in the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after purchasing an additional 604 shares during the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Barclays boosted their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group upped their price target on Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, Franklin Resources presently has an average rating of “Hold” and a consensus target price of $20.86.

Franklin Resources Trading Up 1.2 %

BEN opened at $20.11 on Thursday. The business has a fifty day moving average price of $20.08 and a 200 day moving average price of $20.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.15. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same quarter last year, the business earned $0.65 EPS. Sell-side analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.37%. Franklin Resources’s dividend payout ratio (DPR) is currently 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.