Metis Global Partners LLC Decreases Stake in Franklin Resources, Inc. (NYSE:BEN)

Metis Global Partners LLC decreased its holdings in Franklin Resources, Inc. (NYSE:BEN) by 3.3% in the 4th quarter, HoldingsChannel reports. The fund owned 17,852 shares of the closed-end fund’s stock after selling 616 shares during the quarter. Metis Global Partners LLC’s holdings in Franklin Resources were worth $362,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BEN. State of Alaska Department of Revenue grew its stake in shares of Franklin Resources by 7.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,997 shares of the closed-end fund’s stock worth $705,000 after purchasing an additional 2,430 shares during the period. Stephens Inc. AR boosted its holdings in Franklin Resources by 34.0% during the third quarter. Stephens Inc. AR now owns 15,646 shares of the closed-end fund’s stock worth $315,000 after buying an additional 3,973 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Franklin Resources by 9.0% during the third quarter. Janney Montgomery Scott LLC now owns 491,815 shares of the closed-end fund’s stock worth $9,910,000 after buying an additional 40,800 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Franklin Resources by 315.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 540,465 shares of the closed-end fund’s stock valued at $10,890,000 after buying an additional 410,286 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Franklin Resources by 6.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 110,394 shares of the closed-end fund’s stock valued at $2,224,000 after acquiring an additional 6,279 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BEN. Barclays upped their price target on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and raised their price target for the company from $21.00 to $22.00 in a research report on Monday, January 6th. UBS Group lifted their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, Franklin Resources has an average rating of “Hold” and a consensus price target of $20.86.

Franklin Resources Stock Up 2.9 %

BEN stock opened at $20.14 on Thursday. The company has a 50 day moving average price of $20.18 and a two-hundred day moving average price of $20.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $10.58 billion, a P/E ratio of 30.98, a PEG ratio of 2.31 and a beta of 1.42. Franklin Resources, Inc. has a one year low of $18.83 and a one year high of $28.61.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating 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 prior year, the company earned $0.65 earnings per share. As a group, sell-side analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current 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 paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Monday, March 31st. Franklin Resources’s dividend payout ratio is currently 196.92%.

Franklin Resources 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.