Janney Montgomery Scott LLC Has $10.86 Million Position in Franklin Resources, Inc. (NYSE:BEN)

Janney Montgomery Scott LLC boosted its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 535,260 shares of the closed-end fund’s stock after purchasing an additional 43,445 shares during the quarter. Janney Montgomery Scott LLC owned 0.10% of Franklin Resources worth $10,860,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in Franklin Resources in the third quarter valued at approximately $26,000. Matrix Trust Co bought a new position in Franklin Resources in the third quarter valued at approximately $29,000. Larson Financial Group LLC lifted its position in shares of Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 1,277 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Franklin Resources in the third quarter worth $39,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Franklin Resources in the third quarter worth $41,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Up 0.5 %

BEN stock opened at $20.08 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The company’s 50-day simple moving average is $20.97 and its 200 day simple moving average is $21.08. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.61. The company has a market capitalization of $10.52 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company earned $0.84 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.32 earnings per share for the current year.

Franklin Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were given a dividend of $0.32 per share. This is a boost from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, December 30th. This represents a $1.28 annualized dividend and a yield of 6.37%. Franklin Resources’s dividend payout ratio is currently 148.84%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Franklin Resources in a research report on Tuesday, November 5th. Barclays lowered their target price on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Evercore ISI decreased their price objective on shares of Franklin Resources from $20.00 to $19.00 and set an “underperform” rating on the stock in a report on Friday, October 4th. Morgan Stanley upped their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Finally, UBS Group decreased their price objective on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources currently has a consensus rating of “Hold” and an average price target of $20.18.

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.