Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,565 shares of the closed-end fund’s stock after selling 1,080 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Franklin Resources were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC purchased a new stake in shares of Franklin Resources during the third quarter worth approximately $26,000. Larson Financial Group LLC increased its stake in Franklin Resources by 254.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after buying an additional 1,277 shares during the period. Brooklyn Investment Group purchased a new position in Franklin Resources during the 3rd quarter worth $39,000. Northwest Investment Counselors LLC acquired a new stake in shares of Franklin Resources in the 3rd quarter worth $41,000. Finally, Blue Trust Inc. boosted its holdings in shares of Franklin Resources by 124.8% in the third quarter. Blue Trust Inc. now owns 2,068 shares of the closed-end fund’s stock valued at $46,000 after acquiring an additional 1,148 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BEN. UBS Group increased their price target 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. Morgan Stanley increased their target price on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets boosted their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.86.

Franklin Resources Price Performance

Franklin Resources stock opened at $20.28 on Tuesday. The firm has a market capitalization of $10.65 billion, a PE ratio of 31.19, a P/E/G ratio of 2.14 and a beta of 1.42. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.61. The firm’s 50-day simple moving average is $20.66 and its 200 day simple moving average is $20.87. The company has a quick ratio of 1.63, a current ratio of 1.66 and a debt-to-equity ratio of 0.89.

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 net margin of 4.32% and a return on equity of 9.45%. During the same period in the prior year, the firm earned $0.65 EPS. On average, equities research analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 6.31%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.93%.

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.