Short Interest in Franklin Resources, Inc. (NYSE:BEN) Rises By 6.7%

Franklin Resources, Inc. (NYSE:BEN) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 25,150,000 shares, a growth of 6.7% from the December 31st total of 23,560,000 shares. Based on an average daily volume of 4,010,000 shares, the days-to-cover ratio is currently 6.3 days. Currently, 9.0% of the shares of the stock are short sold.

Franklin Resources Stock Up 0.4 %

Shares of BEN stock traded up $0.09 on Tuesday, reaching $20.81. 759,725 shares of the company were exchanged, compared to its average volume of 4,715,814. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63. Franklin Resources has a one year low of $18.83 and a one year high of $28.61. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.51 and a beta of 1.42. The company has a 50-day moving average of $20.86 and a 200-day moving average of $20.97.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 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 9.41%. During the same period in the prior year, the firm posted $0.65 earnings per share. Analysts anticipate that Franklin Resources will post 2.19 earnings per share for the current 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 given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date was Monday, December 30th. This is a boost from Franklin Resources’s previous quarterly dividend of $0.31. Franklin Resources’s dividend payout ratio (DPR) is presently 196.93%.

Hedge Funds Weigh In On Franklin Resources

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Franklin Resources by 263.1% in the third quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock valued at $40,744,000 after acquiring an additional 1,465,148 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Franklin Resources by 44.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock valued at $60,421,000 after buying an additional 925,590 shares during the last quarter. Vest Financial LLC lifted its position in Franklin Resources by 32.1% during the fourth quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund’s stock valued at $59,316,000 after purchasing an additional 709,736 shares during the period. State Street Corp raised its position in Franklin Resources by 2.9% in the third quarter. State Street Corp now owns 21,155,516 shares of the closed-end fund’s stock worth $432,730,000 after acquiring an additional 599,045 shares during the period. Finally, Two Sigma Advisers LP raised its position in Franklin Resources by 76.7% in the third quarter. Two Sigma Advisers LP now owns 1,290,200 shares of the closed-end fund’s stock worth $25,998,000 after acquiring an additional 560,000 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Analysts Set New Price Targets

BEN has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. BMO Capital Markets upped their price target on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources presently has a consensus rating of “Hold” and an average target price 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.