Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its position in Franklin Resources, Inc. (NYSE:BEN) by 14.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 219,867 shares of the closed-end fund’s stock after selling 38,177 shares during the period. Quantbot Technologies LP’s holdings in Franklin Resources were worth $4,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BEN. 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 during the period. Larson Financial Group LLC grew its holdings in Franklin Resources by 254.4% during the third 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 purchased a new position in Franklin Resources in the third quarter worth $39,000. Principal Securities Inc. boosted its position in shares of Franklin Resources by 561.1% during the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Franklin Resources during the 3rd quarter worth $46,000. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BEN shares. Keefe, Bruyette & Woods upped their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Wells Fargo & Company lifted their price objective on Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. UBS Group upped their target price on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays raised their price target on Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.86.

Franklin Resources Stock Up 3.4 %

Shares of NYSE BEN opened at $19.56 on Friday. The firm has a market cap of $10.27 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. Franklin Resources, Inc. has a 1 year low of $18.83 and a 1 year high of $28.15. The firm’s 50 day moving average price is $20.08 and its 200 day moving average price is $20.56.

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 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 quarter in the previous year, the business earned $0.65 EPS. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.55%. Franklin Resources’s payout ratio is currently 196.92%.

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.