Franklin Resources, Inc. (NYSE:BEN) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB cut its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 74.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,481 shares of the closed-end fund’s stock after selling 347,693 shares during the period. AMF Tjanstepension AB’s holdings in Franklin Resources were worth $2,411,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BEN. PNC Financial Services Group Inc. increased its position in shares of Franklin Resources by 34.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 93,789 shares of the closed-end fund’s stock valued at $1,903,000 after acquiring an additional 24,204 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Franklin Resources in the 4th quarter valued at $607,000. Inceptionr LLC acquired a new position in shares of Franklin Resources in the 4th quarter valued at $1,210,000. Raymond James Financial Inc. acquired a new position in shares of Franklin Resources in the 4th quarter valued at $11,474,000. Finally, Arizona State Retirement System increased its position in shares of Franklin Resources by 0.8% in the 4th quarter. Arizona State Retirement System now owns 83,549 shares of the closed-end fund’s stock valued at $1,695,000 after acquiring an additional 651 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Trading Up 1.3 %

BEN stock opened at $20.33 on Friday. The company’s 50-day simple moving average is $20.16 and its 200-day simple moving average is $20.60. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 52-week low of $18.83 and a 52-week high of $28.61. The firm has a market cap of $10.68 billion, a P/E ratio of 31.27, a PEG ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company posted $0.65 EPS. As a group, equities analysts forecast that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 6.30%. Franklin Resources’s dividend payout ratio (DPR) is presently 196.92%.

Wall Street Analyst Weigh In

BEN has been the topic of several research reports. BMO Capital Markets upped their target price on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Franklin Resources from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods upped their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Monday, February 3rd. Morgan Stanley upped their price target 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. Finally, The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and upped their price target for the company from $21.00 to $22.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.86.

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.