Worldquant Millennium Advisors LLC Boosts Stock Position in Franklin Resources, Inc. (NYSE:BEN)

Worldquant Millennium Advisors LLC lifted its holdings in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 600,968 shares of the closed-end fund's stock after acquiring an additional 203,188 shares during the quarter. Worldquant Millennium Advisors LLC owned approximately 0.11% of Franklin Resources worth $12,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BEN. Norges Bank bought a new position in shares of Franklin Resources during the fourth quarter valued at approximately $53,676,000. Two Sigma Advisers LP raised its holdings in shares of Franklin Resources by 173.7% during the fourth quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund's stock valued at $71,658,000 after acquiring an additional 2,241,500 shares in the last quarter. Two Sigma Investments LP grew its stake in Franklin Resources by 132.7% in the fourth 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 period. First Trust Advisors LP grew its stake in Franklin Resources by 33.1% in the fourth quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock worth $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% in the fourth quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund's stock worth $190,805,000 after purchasing an additional 1,542,478 shares during the period. Institutional investors own 47.56% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" 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 stock a "neutral" rating in a research note on Monday, May 5th. Cowen raised Franklin Resources from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Bank of America reduced their price target on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Morgan Stanley reduced their price target on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.25.

Franklin Resources Stock Up 2.7%

Shares of NYSE:BEN traded up $0.58 on Tuesday, hitting $22.09. 1,144,653 shares of the company traded hands, compared to its average volume of 4,584,437. Franklin Resources, Inc. has a 52 week low of $16.25 and a 52 week high of $24.36. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $19.47 and a 200-day simple moving average of $20.27. The company has a market cap of $11.61 billion, a PE ratio of 33.98, a PEG ratio of 2.31 and a beta of 1.39.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company earned $0.56 EPS. Franklin Resources's revenue for the quarter 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 Dividend Announcement

The company also recently announced 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 is Friday, June 27th. This represents a $1.28 annualized dividend and a yield of 5.80%. Franklin Resources's payout ratio is 188.24%.

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.