OppenheimerFunds Inc. bought a new stake in Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,317 shares of the closed-end fund’s stock, valued at approximately $1,184,000.
A number of other institutional investors have also recently made changes to their positions in the stock. State of Tennessee Treasury Department raised its position in Franklin Resources by 32.2% in the 4th quarter. State of Tennessee Treasury Department now owns 167,529 shares of the closed-end fund’s stock valued at $7,259,000 after buying an additional 40,791 shares during the last quarter. Pzena Investment Management LLC raised its position in Franklin Resources by 0.5% in the 4th quarter. Pzena Investment Management LLC now owns 10,390,099 shares of the closed-end fund’s stock valued at $450,203,000 after buying an additional 46,938 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of Franklin Resources by 36.7% during the 4th quarter. First Republic Investment Management Inc. now owns 137,438 shares of the closed-end fund’s stock worth $5,955,000 after purchasing an additional 36,906 shares during the last quarter. Norinchukin Bank The increased its position in shares of Franklin Resources by 11.9% during the 4th quarter. Norinchukin Bank The now owns 16,384 shares of the closed-end fund’s stock worth $710,000 after purchasing an additional 1,741 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its position in shares of Franklin Resources by 95.7% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 52,013 shares of the closed-end fund’s stock worth $2,254,000 after purchasing an additional 25,436 shares during the last quarter. 46.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of BEN stock traded down $0.83 during trading on Friday, reaching $33.22. 4,056,547 shares of the company’s stock were exchanged, compared to its average volume of 3,591,539. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $18,785.51, a PE ratio of 11.04, a PEG ratio of 1.15 and a beta of 1.60. Franklin Resources, Inc. has a twelve month low of $32.91 and a twelve month high of $47.65.
Franklin Resources (NYSE:BEN) last posted its earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.13. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. sell-side analysts predict that Franklin Resources, Inc. will post 3.26 EPS for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $3.00 per share. The ex-dividend date is Wednesday, March 28th. This is a positive change from Franklin Resources’s previous special dividend of $0.50. This represents a dividend yield of 2.35%. Franklin Resources’s payout ratio is presently 30.56%.
Several research analysts have weighed in on the company. Deutsche Bank lowered their price target on Franklin Resources from $37.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday. Credit Suisse Group lowered their price target on Franklin Resources from $57.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday. ValuEngine lowered Franklin Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 price target on shares of Franklin Resources in a research report on Friday, December 22nd. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Franklin Resources presently has an average rating of “Hold” and a consensus price target of $42.80.
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Franklin Resources Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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