Amalgamated Bank Has $1.19 Million Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Amalgamated Bank reduced its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,501 shares of the closed-end fund’s stock after selling 1,235 shares during the period. Amalgamated Bank’s holdings in Franklin Resources were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Franklin Resources during the 3rd quarter worth approximately $880,000. FORA Capital LLC acquired a new position in shares of Franklin Resources during the third quarter worth $1,857,000. Principal Financial Group Inc. grew its stake in shares of Franklin Resources by 9.3% in the third quarter. Principal Financial Group Inc. now owns 381,192 shares of the closed-end fund’s stock worth $7,681,000 after purchasing an additional 32,490 shares during the last quarter. Swedbank AB increased its holdings in Franklin Resources by 78.3% in the third quarter. Swedbank AB now owns 62,076 shares of the closed-end fund’s stock valued at $1,251,000 after purchasing an additional 27,259 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Franklin Resources by 44.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock worth $60,421,000 after purchasing an additional 925,590 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 2.0 %

BEN stock opened at $19.84 on Tuesday. The stock’s 50 day simple moving average is $20.22 and its 200 day simple moving average is $20.66. The company has a market cap of $10.42 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same period in the previous year, the company posted $0.65 EPS. On average, research analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is presently 196.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BEN shares. StockNews.com upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. UBS Group upped their target price on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays increased their target price on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $22.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.