Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC increased its stake in Franklin Resources, Inc. (NYSE:BEN) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,290 shares of the closed-end fund’s stock after purchasing an additional 1,450 shares during the period. Capital Investment Advisory Services LLC’s holdings in Franklin Resources were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BEN. MFA Wealth Advisors LLC acquired a new position in shares of Franklin Resources during the third quarter valued at $26,000. Matrix Trust Co acquired a new position in Franklin Resources during the 3rd quarter valued at about $29,000. Larson Financial Group LLC boosted its stake in Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 1,277 shares during the period. Brooklyn Investment Group bought a new position in Franklin Resources in the 3rd quarter worth about $39,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at approximately $41,000. 47.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BEN. Morgan Stanley increased their price objective on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Barclays lowered their price target on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company reduced their price objective on shares of Franklin Resources from $22.50 to $20.50 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $19.00 target price (down previously from $20.00) on shares of Franklin Resources in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.18.

Franklin Resources Price Performance

Shares of NYSE:BEN opened at $22.22 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $11.64 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.41. The stock has a fifty day moving average of $20.85 and a 200-day moving average of $21.01. Franklin Resources, Inc. has a one year low of $18.83 and a one year high of $28.61.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. During the same period last year, the business posted $0.65 earnings per share. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.21 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were paid a $0.32 dividend. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 5.76%. The ex-dividend date was Monday, December 30th. Franklin Resources’s dividend payout ratio is currently 148.84%.

Franklin Resources Company 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.