Short Interest in Franklin Resources, Inc. (NYSE:BEN) Grows By 6.7%

Franklin Resources, Inc. (NYSE:BEN) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 25,150,000 shares, an increase of 6.7% from the December 31st total of 23,560,000 shares. Currently, 9.0% of the shares of the company are sold short. Based on an average trading volume of 4,010,000 shares, the short-interest ratio is presently 6.3 days.

Franklin Resources Stock Up 0.4 %

Shares of BEN traded up $0.09 during trading on Tuesday, reaching $20.81. The company’s stock had a trading volume of 759,725 shares, compared to its average volume of 4,715,814. The company has a fifty day moving average of $20.86 and a two-hundred day moving average of $20.97. Franklin Resources has a twelve month low of $18.83 and a twelve month high of $28.61. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 1.51 and a beta of 1.42. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts predict that Franklin Resources will post 2.19 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.28 dividend on an annualized basis and a yield of 6.15%. This is a boost from Franklin Resources’s previous quarterly dividend of $0.31. Franklin Resources’s dividend payout ratio (DPR) is currently 196.93%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BEN shares. UBS Group boosted their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday. StockNews.com raised shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a report on Monday. BMO Capital Markets raised 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. Finally, Morgan Stanley raised their target price on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.86.

Institutional Investors Weigh In On Franklin Resources

A number of institutional investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC bought a new stake in Franklin Resources in the third quarter valued at $26,000. Matrix Trust Co acquired a new stake in Franklin Resources in the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC grew its stake in 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 in the last quarter. Brooklyn Investment Group bought a new position in Franklin Resources in the third quarter valued at approximately $39,000. Finally, Principal Securities Inc. grew its stake in Franklin Resources by 561.1% in the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after purchasing an additional 1,661 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

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.