Cwm LLC Has $2.41 Million Position in Franklin Resources, Inc. (NYSE:BEN)

CWM LLC decreased its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,185 shares of the closed-end fund's stock after selling 26,860 shares during the period. CWM LLC's holdings in Franklin Resources were worth $2,410,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BEN. Norges Bank bought a new position in Franklin Resources in the fourth quarter worth about $53,676,000. Two Sigma Advisers LP raised its position in shares of Franklin Resources by 173.7% during the 4th quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund's stock worth $71,658,000 after purchasing an additional 2,241,500 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Franklin Resources by 132.7% in the 4th quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund's stock worth $59,557,000 after purchasing an additional 1,673,971 shares during the last quarter. First Trust Advisors LP boosted its position in Franklin Resources by 33.1% during the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock valued at $130,645,000 after purchasing an additional 1,599,849 shares during the period. Finally, ProShare Advisors LLC grew its stake in Franklin Resources by 19.6% during the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund's stock worth $190,805,000 after buying an additional 1,542,478 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.

Franklin Resources Stock Up 1.3%

Shares of BEN traded up $0.32 during trading hours on Tuesday, hitting $24.60. 3,135,151 shares of the company were exchanged, compared to its average volume of 4,529,354. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $12.93 billion, a PE ratio of 36.17, a PEG ratio of 1.76 and a beta of 1.45. The firm's 50 day moving average is $22.90 and its 200-day moving average is $20.72. Franklin Resources, Inc. has a 52 week low of $16.25 and a 52 week high of $25.36.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. Franklin Resources had a net margin of 4.65% and a return on equity of 9.13%. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Franklin Resources's revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Friday, June 27th. Franklin Resources's dividend payout ratio is 188.24%.

Wall Street Analyst Weigh In

BEN has been the topic of a number of analyst reports. Evercore ISI dropped their price objective on shares of Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a report on Friday, April 11th. Barclays boosted their price objective on Franklin Resources from $19.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on Franklin Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Cowen reaffirmed a "buy" rating on shares of Franklin Resources in a report on Monday, June 16th. Finally, TD Cowen raised shares of Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.92.

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.