Franklin Resources Sees Unusually Large Options Volume (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 9,664 put options on the company. This represents an increase of 509% compared to the typical daily volume of 1,586 put options.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BEN shares. BMO Capital Markets raised 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, February 3rd. Barclays boosted their target price on Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Morgan Stanley increased 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. UBS Group boosted their price objective on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.86.

Institutional Trading of Franklin Resources

Several institutional investors and hedge funds have recently modified their holdings of BEN. Wealth Enhancement Advisory Services LLC increased its position in shares of Franklin Resources by 47.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 48,954 shares of the closed-end fund’s stock worth $993,000 after purchasing an additional 15,758 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in Franklin Resources in the 4th quarter worth approximately $3,020,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Franklin Resources in the 4th quarter worth approximately $2,156,000. Perennial Advisors LLC bought a new position in shares of Franklin Resources in the 4th quarter worth $295,000. Finally, Toronto Dominion Bank raised its position in shares of Franklin Resources by 7.5% during the 4th quarter. Toronto Dominion Bank now owns 162,446 shares of the closed-end fund’s stock valued at $3,296,000 after buying an additional 11,367 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

BEN stock opened at $19.79 on Tuesday. The firm has a 50 day moving average of $20.08 and a 200-day moving average of $20.57. The firm has a market capitalization of $10.40 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. Franklin Resources has a 12 month low of $18.83 and a 12 month high of $28.15. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

Franklin Resources (NYSE:BEN) last posted its earnings results 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 net margin of 4.32% and a return on equity of 9.45%. During the same period in the previous year, the firm posted $0.65 EPS. As a group, sell-side analysts predict that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced 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 6.47%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.92%.

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.