MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in Franklin Resources, Inc. (NYSE:BEN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 28.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,286 shares of the closed-end fund's stock after purchasing an additional 26,079 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Franklin Resources were worth $2,380,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC raised its position in shares of Franklin Resources by 147.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock worth $25,000 after purchasing an additional 737 shares during the last quarter. GeoWealth Management LLC raised its position in shares of Franklin Resources by 350.4% during the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock worth $26,000 after purchasing an additional 981 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Franklin Resources by 44.5% during the 4th 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 last quarter. Headlands Technologies LLC acquired a new position in shares of Franklin Resources during the 4th quarter worth approximately $34,000. Finally, Principal Securities Inc. raised its holdings 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 acquiring an additional 1,661 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Trading Up 3.3%

Shares of NYSE BEN traded up $0.71 during trading on Tuesday, hitting $22.22. 4,906,857 shares of the company traded hands, compared to its average volume of 4,366,210. The company has a 50-day moving average price of $19.51 and a 200-day moving average price of $20.29. 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, Inc. has a 1 year low of $16.25 and a 1 year high of $24.37. The firm has a market capitalization of $11.68 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.31 and a beta of 1.39.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings results 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 4.32% and a return on equity of 9.45%. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the prior year, the company earned $0.56 EPS. The firm's revenue was down 6.2% on a year-over-year basis. On average, equities analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, June 27th. This represents a $1.28 dividend on an annualized basis and a yield of 5.76%. Franklin Resources's dividend payout ratio (DPR) is 188.24%.

Analyst Ratings Changes

Several research analysts have weighed in on BEN shares. Barclays boosted their price target on Franklin Resources from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Evercore ISI cut their price target on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a report on Friday, April 11th. Bank of America cut their price target on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group boosted 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. Finally, Keefe, Bruyette & Woods boosted their price target on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.25.

About Franklin Resources

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.