Nomura Asset Management Co. Ltd. Has $41.12 Million Stake in Franklin Resources, Inc. (NYSE:BEN)

Nomura Asset Management Co. Ltd. raised its stake in Franklin Resources, Inc. (NYSE:BEN) by 23.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,026,650 shares of the closed-end fund’s stock after acquiring an additional 391,159 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Franklin Resources were worth $41,121,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares during the last quarter. Larson Financial Group LLC boosted its position in 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 valued at $36,000 after buying an additional 1,277 shares in the last quarter. Brooklyn Investment Group acquired a new position in Franklin Resources in the third quarter valued at about $39,000. Principal Securities Inc. grew its stake in Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after buying an additional 1,661 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of Franklin Resources by 30.2% during the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after buying an additional 604 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on BEN shares. Wells Fargo & Company increased their price target on Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $22.00 in a report on Monday, January 6th. Finally, Barclays boosted their target price on shares of Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.86.

Franklin Resources Price Performance

BEN opened at $19.27 on Friday. The company has a fifty day moving average price of $20.15 and a two-hundred day moving average price of $20.56. The firm has a market capitalization of $10.12 billion, a PE ratio of 29.64, a P/E/G ratio of 2.31 and a beta of 1.42. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.08. 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 (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 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 quarter in the previous year, the firm earned $0.65 earnings per share. As a group, analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.64%. Franklin Resources’s dividend payout ratio is 196.92%.

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.