Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,600 shares of the closed-end fund’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Franklin Resources were worth $337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sovran Advisors LLC acquired a new stake in Franklin Resources during the fourth quarter worth about $270,000. International Private Wealth Advisors LLC raised its stake in Franklin Resources by 5.0% during the fourth quarter. International Private Wealth Advisors LLC now owns 13,518 shares of the closed-end fund’s stock worth $274,000 after acquiring an additional 646 shares during the period. Entropy Technologies LP acquired a new stake in Franklin Resources during the fourth quarter worth about $372,000. Moloney Securities Asset Management LLC raised its stake in Franklin Resources by 13.1% during the fourth quarter. Moloney Securities Asset Management LLC now owns 15,368 shares of the closed-end fund’s stock worth $312,000 after acquiring an additional 1,784 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in Franklin Resources during the fourth quarter worth about $494,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Trading Down 0.2 %

Franklin Resources stock opened at $20.90 on Thursday. The firm has a 50 day simple moving average of $20.38 and a 200-day simple moving average of $20.76. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $10.98 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.13 and a beta of 1.42. Franklin Resources, Inc. has a 12-month low of $18.83 and a 12-month high of $28.61.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same period in the previous year, the firm earned $0.65 earnings per share. As a group, equities research analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is presently 196.93%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BEN shares. TD Cowen dropped their price objective on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays raised their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.86.

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.