100,878 Shares in Franklin Resources, Inc. (NYSE:BEN) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 100,878 shares of the closed-end fund’s stock, valued at approximately $2,074,000.

A number of other large investors also recently bought and sold shares of BEN. Charles Schwab Investment Management Inc. boosted its holdings in Franklin Resources by 44.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock valued at $60,421,000 after acquiring an additional 925,590 shares during the last quarter. Raymond James Trust N.A. purchased a new position in shares of Franklin Resources in the 3rd quarter worth about $301,000. Citigroup Inc. lifted its stake in shares of Franklin Resources by 24.8% in the 3rd quarter. Citigroup Inc. now owns 615,925 shares of the closed-end fund’s stock valued at $12,411,000 after purchasing an additional 122,300 shares in the last quarter. Swedbank AB grew its holdings in shares of Franklin Resources by 78.3% during the 3rd quarter. Swedbank AB now owns 62,076 shares of the closed-end fund’s stock worth $1,251,000 after purchasing an additional 27,259 shares during the period. Finally, Larson Financial Group LLC increased its position in 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. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Performance

Franklin Resources stock opened at $19.85 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average of $20.15 and a 200-day moving average of $20.56. The stock has a market cap of $10.42 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.15.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share 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 quarter last year, the company posted $0.65 earnings per share. On average, analysts expect that Franklin Resources, Inc. will post 2.16 EPS 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. Investors of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.45%. The ex-dividend date is Monday, March 31st. Franklin Resources’s dividend payout ratio is currently 196.92%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BEN shares. UBS Group boosted their price objective on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and increased their price target for the company from $21.00 to $22.00 in a report on Monday, January 6th. Barclays boosted 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. Morgan Stanley increased their target price on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Finally, Keefe, Bruyette & Woods boosted their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and a consensus price target of $20.86.

Franklin Resources 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.