GPS Wealth Strategies Group LLC Sells 8,021 Shares of Franklin Resources, Inc. (NYSE:BEN)

GPS Wealth Strategies Group LLC lowered its holdings in Franklin Resources, Inc. (NYSE:BEN) by 58.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,663 shares of the closed-end fund’s stock after selling 8,021 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Franklin Resources were worth $115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BEN. MFA Wealth Advisors LLC acquired a new position in shares of Franklin Resources during the third quarter valued at about $26,000. Matrix Trust Co acquired a new position in Franklin Resources in the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC lifted its position in shares of Franklin Resources by 254.4% in the 3rd 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 shares of Franklin Resources during the 3rd quarter worth approximately $39,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Franklin Resources in the third quarter valued at $41,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Down 6.9 %

Shares of NYSE:BEN opened at $20.72 on Tuesday. The company’s fifty day simple moving average is $20.86 and its 200 day simple moving average is $20.97. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.61. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.51 and a beta of 1.41. 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 (NYSE:BEN) last posted its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.65 earnings per share. As a group, research analysts forecast that Franklin Resources, Inc. will post 2.19 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were issued a dividend of $0.32 per share. This is a boost from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.28 annualized dividend and a yield of 6.18%. Franklin Resources’s dividend payout ratio is presently 196.92%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BEN. BMO Capital Markets lifted their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group increased their price target on shares of Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Morgan Stanley boosted 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. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.86.

About Franklin Resources

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.