Associated Banc Corp Lowers Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Associated Banc Corp lowered its holdings in Franklin Resources, Inc. (NYSE:BEN) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,347 shares of the closed-end fund’s stock after selling 1,800 shares during the period. Associated Banc Corp’s holdings in Franklin Resources were worth $372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BEN. Smartleaf Asset Management LLC grew its position in shares of Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock valued at $33,000 after purchasing an additional 505 shares during the period. Larson Financial Group LLC grew its position in shares of Franklin Resources by 254.4% in the third 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 purchased a new stake in shares of Franklin Resources in the third quarter valued at $39,000. Principal Securities Inc. grew its position in Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after acquiring an additional 1,661 shares during the period. Finally, Assetmark Inc. purchased a new stake in Franklin Resources during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Up 3.4 %

Shares of BEN opened at $19.56 on Friday. The stock’s 50-day moving average is $20.08 and its two-hundred day moving average is $20.56. The stock has a market cap of $10.27 billion, a PE ratio of 30.09, a P/E/G ratio of 2.31 and a beta of 1.42. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results 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 return on equity of 9.45% and a net margin of 4.32%. During the same period in the previous year, the business earned $0.65 EPS. Equities analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is 196.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $22.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets boosted their price target on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research 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. Based on data from MarketBeat.com, the stock presently has an average 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.