29,437 Shares in Franklin Resources, Inc. (NYSE:BEN) Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC acquired a new stake in Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 29,437 shares of the closed-end fund’s stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake 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 acquiring an additional 505 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Franklin Resources by 254.4% during 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 bought a new position in shares of Franklin Resources during the third quarter worth approximately $39,000. Principal Securities Inc. raised its position in shares of 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 buying an additional 1,661 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Franklin Resources in the third quarter valued at approximately $46,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

Shares of Franklin Resources stock opened at $20.03 on Tuesday. The company’s 50 day moving average price is $20.16 and its two-hundred day moving average price is $20.60. The firm has a market capitalization of $10.52 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.31 and a beta of 1.42. 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, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 company posted $0.65 EPS. On average, equities analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 6.39%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio is currently 196.92%.

Analysts Set New Price Targets

BEN has been the topic of a number of recent research reports. Barclays raised their price objective on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday, February 3rd. Finally, UBS Group upped 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. Four equities research 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 company presently has an average rating of “Hold” and an average target price of $20.86.

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.