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

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. MFA Wealth Advisors LLC acquired a new position in Franklin Resources during the third quarter worth about $26,000. Larson Financial Group LLC lifted 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 worth $36,000 after purchasing an additional 1,277 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Franklin Resources during the 3rd quarter worth approximately $39,000. Northwest Investment Counselors LLC purchased a new stake in shares of Franklin Resources in the third quarter valued at approximately $41,000. Finally, Blue Trust Inc. increased 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 purchasing an additional 1,148 shares during the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Performance

Shares of BEN stock opened at $20.28 on Tuesday. Franklin Resources, Inc. has a 1 year low of $18.83 and a 1 year high of $28.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.63 and a current ratio of 1.66. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.14 and a beta of 1.42. The stock’s 50-day moving average is $20.66 and its two-hundred day moving average is $20.87.

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 quarter last year, the business earned $0.65 EPS. Analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

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 given a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a yield of 6.31%. Franklin Resources’s dividend payout ratio (DPR) is 196.93%.

Analyst Ratings Changes

A number of research firms have weighed in on BEN. Morgan Stanley boosted their price objective on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Barclays lifted their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. UBS Group increased their target price on Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, Franklin Resources presently has a consensus rating of “Hold” and an average price target 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.