Alexander Randolph Advisory Inc. Makes New $2.76 Million Investment in Franklin Resources, Inc. (NYSE:BEN)

Alexander Randolph Advisory Inc. acquired a new position in Franklin Resources, Inc. (NYSE:BEN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 92,761 shares of the closed-end fund's stock, valued at approximately $2,763,000. Franklin Resources makes up about 2.5% of Alexander Randolph Advisory Inc.'s investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also made changes to their positions in BEN. Peoples Bank KS acquired a new position in Franklin Resources during the third quarter worth $25,000. Blue Trust Inc. increased its holdings in Franklin Resources by 240.5% during the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund's stock worth $26,000 after buying an additional 623 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in Franklin Resources by 975.5% during the third quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund's stock worth $28,000 after buying an additional 1,034 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Franklin Resources during the fourth quarter worth $31,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Franklin Resources by 149.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund's stock worth $33,000 after buying an additional 665 shares during the last quarter. Institutional investors own 47.56% of the company's stock.

Franklin Resources Price Performance

BEN traded down $0.10 on Friday, hitting $24.99. 7,535,980 shares of the stock were exchanged, compared to its average volume of 3,588,434. Franklin Resources, Inc. has a 12 month low of $21.88 and a 12 month high of $30.32. The business has a 50-day moving average of $26.87 and a two-hundred day moving average of $26.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.31 and a beta of 1.40.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. Franklin Resources's revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Franklin Resources, Inc. will post 2.52 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.24 annualized dividend and a yield of 4.96%. Franklin Resources's dividend payout ratio is 65.26%.

Analyst Ratings Changes

Several equities analysts have commented on BEN shares. TD Cowen started coverage on shares of Franklin Resources in a report on Thursday, January 4th. They issued a "market perform" rating and a $32.00 price objective on the stock. StockNews.com downgraded shares of Franklin Resources from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. Wells Fargo & Company upgraded shares of Franklin Resources from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $24.00 to $30.00 in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Franklin Resources from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, January 30th. Finally, BMO Capital Markets boosted their target price on shares of Franklin Resources from $27.00 to $30.00 and gave the company a "market perform" rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.50.

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.