WBI Investments LLC Raises Stake in Franklin Resources, Inc. (NYSE:BEN)

WBI Investments LLC grew its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Franklin Resources by 230.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 291,821 shares of the closed-end fund's stock valued at $5,921,000 after purchasing an additional 203,414 shares during the last quarter. Twelve Points Wealth Management LLC grew its holdings in Franklin Resources by 20.5% during the 4th quarter. Twelve Points Wealth Management LLC now owns 159,738 shares of the closed-end fund's stock valued at $3,241,000 after buying an additional 27,169 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Franklin Resources by 34.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 93,789 shares of the closed-end fund's stock valued at $1,903,000 after acquiring an additional 24,204 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Franklin Resources by 139.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 29,829 shares of the closed-end fund's stock valued at $605,000 after acquiring an additional 17,376 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of Franklin Resources by 5.3% during the 4th quarter. Sound Income Strategies LLC now owns 543,875 shares of the closed-end fund's stock valued at $11,035,000 after acquiring an additional 27,607 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Stock Performance

BEN remained flat at $21.61 during trading hours on Thursday. 5,210,241 shares of the company traded hands, compared to its average volume of 4,358,290. The firm has a 50 day moving average of $19.37 and a 200-day moving average of $20.27. Franklin Resources, Inc. has a 12 month low of $16.25 and a 12 month high of $24.37. The firm has a market cap of $11.36 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

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

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Friday, June 27th. Franklin Resources's dividend payout ratio (DPR) is 188.24%.

Analysts Set New Price Targets

BEN has been the subject of a number of recent research reports. Cowen upgraded Franklin Resources from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. BMO Capital Markets increased their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. The Goldman Sachs Group upped their price target on Franklin Resources from $19.00 to $21.50 and gave the company a "neutral" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods increased their target price on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Monday, February 3rd. Finally, TD Cowen raised shares of Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Franklin Resources has a consensus rating of "Hold" and a consensus price target of $20.25.

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.