Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV lessened its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 32.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,659 shares of the closed-end fund’s stock after selling 1,293 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Franklin Resources were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BEN. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Franklin Resources during the 3rd quarter worth about $345,000. PNC Financial Services Group Inc. increased its position in Franklin Resources by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock worth $1,402,000 after buying an additional 572 shares during the period. Avior Wealth Management LLC acquired a new position in Franklin Resources during the third quarter worth approximately $121,000. Charles Schwab Investment Management Inc. increased its position in Franklin Resources by 44.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock worth $60,421,000 after buying an additional 925,590 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in Franklin Resources during the third quarter worth approximately $301,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Wall Street Analyst Weigh In

BEN has been the topic of several research analyst reports. The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. Barclays boosted their target price on Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their target price on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.86.

Franklin Resources Stock Down 0.8 %

BEN opened at $19.86 on Friday. The business’s fifty day moving average is $20.10 and its two-hundred day moving average is $20.55. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.31 and a beta of 1.42. Franklin Resources, Inc. has a one year low of $18.83 and a one year high of $28.15.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results 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 period in the previous year, the business earned $0.65 earnings per share. Analysts anticipate that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.45%. Franklin Resources’s dividend payout ratio (DPR) is 196.92%.

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.