Franklin Resources, Inc. (NYSE:BEN) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,317 shares of the closed-end fund’s stock after buying an additional 8,115 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Franklin Resources were worth $1,548,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 505 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of 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 worth $36,000 after purchasing an additional 1,277 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after buying an additional 1,661 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Franklin Resources by 30.2% in the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after buying an additional 604 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Franklin Resources during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

Franklin Resources stock opened at $19.27 on Monday. The firm has a fifty day moving average of $20.15 and a 200-day moving average of $20.58. Franklin Resources, Inc. has a 52-week low of $18.83 and a 52-week high of $28.08. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $10.12 billion, a P/E ratio of 29.64, a PEG ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

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. This represents a $1.28 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is presently 196.92%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BEN shares. JPMorgan Chase & Co. cut their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and upped their target price for the company from $21.00 to $22.00 in a research note on Monday, January 6th. Morgan Stanley raised their price target on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. BMO Capital Markets upped their price objective on shares of Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group increased their price objective on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.86.

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.