Janney Montgomery Scott LLC Has $11.54 Million Holdings in Franklin Resources, Inc. (NYSE:BEN)

Janney Montgomery Scott LLC raised its stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 599,512 shares of the closed-end fund's stock after purchasing an additional 64,252 shares during the period. Janney Montgomery Scott LLC owned 0.11% of Franklin Resources worth $11,541,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CoreCap Advisors LLC raised its holdings in Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after acquiring an additional 737 shares during the period. GeoWealth Management LLC grew its position in shares of Franklin Resources by 350.4% in the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock valued at $26,000 after purchasing an additional 981 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Franklin Resources by 44.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock worth $33,000 after purchasing an additional 505 shares during the period. Headlands Technologies LLC acquired a new stake in Franklin Resources during the 4th quarter worth approximately $34,000. Finally, Principal Securities Inc. boosted its stake in Franklin Resources by 561.1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock valued at $40,000 after purchasing an additional 1,661 shares during the period. 47.56% of the stock is owned by institutional investors.

Franklin Resources Price Performance

Shares of NYSE BEN traded up $0.18 during midday trading on Friday, reaching $22.77. 7,043,092 shares of the company were exchanged, compared to its average volume of 4,490,944. The stock's 50-day moving average price is $20.65 and its 200-day moving average price is $20.30. The stock has a market cap of $11.97 billion, a P/E ratio of 33.49, a PEG ratio of 3.05 and a beta of 1.43. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.93. Franklin Resources, Inc. has a one year low of $16.25 and a one year high of $24.37.

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. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. Franklin Resources had a return on equity of 9.13% and a net margin of 4.65%. Franklin Resources's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Friday, June 27th. Franklin Resources's dividend payout ratio is currently 188.24%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BEN shares. Barclays increased their price objective on Franklin Resources from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of Franklin Resources in a research report on Monday. Bank of America cut their price objective on shares of Franklin Resources from $20.00 to $17.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Morgan Stanley decreased their target price on shares of Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company lifted their price target on shares of Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.