Dupree Financial Group LLC Makes New Investment in Franklin Resources, Inc. (NYSE:BEN)

Dupree Financial Group LLC purchased a new position in Franklin Resources, Inc. (NYSE:BEN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 133,715 shares of the closed-end fund’s stock, valued at approximately $2,713,000. Franklin Resources accounts for about 1.2% of Dupree Financial Group LLC’s holdings, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Franklin Resources by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock valued at $1,402,000 after buying an additional 572 shares during the last quarter. Anchor Investment Management LLC raised its position in Franklin Resources by 30.2% during the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after acquiring an additional 604 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in Franklin Resources by 3.2% during the third quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock worth $393,000 after buying an additional 609 shares in the last quarter. Blue Trust Inc. grew its position in shares of Franklin Resources by 29.4% during the 4th quarter. Blue Trust Inc. now owns 2,677 shares of the closed-end fund’s stock valued at $54,000 after acquiring an additional 609 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Franklin Resources by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,918 shares of the closed-end fund’s stock valued at $683,000 after buying an additional 722 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Down 6.9 %

NYSE BEN opened at $20.72 on Tuesday. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.61. The stock has a fifty day moving average of $20.86 and a 200-day moving average of $20.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $10.85 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) 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 9.41%. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, equities research analysts forecast that Franklin Resources, Inc. will post 2.19 EPS for the current 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 given 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 dividend yield of 6.18%. This is a boost from Franklin Resources’s previous quarterly dividend of $0.31. Franklin Resources’s dividend payout ratio (DPR) is presently 196.92%.

Wall Street Analysts Forecast Growth

BEN has been the topic of several research reports. Keefe, Bruyette & Woods raised their target price on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday. TD Cowen lowered their target price on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, 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. Four investment 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.

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.