WBI Investments LLC Acquires 30,520 Shares of Franklin Resources, Inc. (NYSE:BEN)

WBI Investments LLC boosted its position in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 42.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,169 shares of the closed-end fund's stock after purchasing an additional 30,520 shares during the quarter. WBI Investments LLC's holdings in Franklin Resources were worth $2,093,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Avanza Fonder AB acquired a new position in shares of Franklin Resources during the 4th quarter worth $345,000. Guinness Asset Management LTD raised its holdings in shares of Franklin Resources by 66.0% during the 4th quarter. Guinness Asset Management LTD now owns 18,457 shares of the closed-end fund's stock worth $374,000 after buying an additional 7,337 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Franklin Resources by 94.8% during the 4th quarter. SG Americas Securities LLC now owns 62,492 shares of the closed-end fund's stock worth $1,268,000 after buying an additional 30,415 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Franklin Resources by 8.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 535,260 shares of the closed-end fund's stock worth $10,860,000 after buying an additional 43,445 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of Franklin Resources by 32.2% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,400 shares of the closed-end fund's stock worth $312,000 after buying an additional 3,750 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Trading Down 0.4%

Shares of NYSE BEN traded down $0.09 during trading on Friday, reaching $21.53. The company had a trading volume of 3,287,948 shares, compared to its average volume of 4,356,545. The company's fifty day moving average price is $19.44 and its 200-day moving average price is $20.28. Franklin Resources, Inc. has a 12 month low of $16.25 and a 12 month high of $24.37. The stock has a market cap of $11.31 billion, a P/E ratio of 33.12, a PEG ratio of 2.31 and a beta of 1.39. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The business's revenue was down 6.2% on a year-over-year basis. As a group, research analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.95%. Franklin Resources's dividend payout ratio (DPR) is presently 188.24%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BEN shares. Cowen raised Franklin Resources from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. The Goldman Sachs Group upped their target price on Franklin Resources from $19.00 to $21.50 and gave the stock a "neutral" rating in a report on Monday, May 5th. Barclays upped their target price on Franklin Resources from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. BMO Capital Markets upped their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Finally, Evercore ISI lowered their target price on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a report on Friday, April 11th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Franklin Resources has a consensus rating of "Hold" and an average price target of $20.25.

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.