Mirae Asset Global Investments Co. Ltd. increased its stake in Franklin Resources, Inc. (NYSE:BEN - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,046 shares of the closed-end fund's stock after acquiring an additional 25,414 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Franklin Resources were worth $1,592,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Stratos Wealth Partners LTD. raised its stake in shares of Franklin Resources by 239.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 35,268 shares of the closed-end fund's stock valued at $716,000 after acquiring an additional 24,883 shares in the last quarter. Mather Group LLC. raised its stake in shares of Franklin Resources by 3.6% in the fourth quarter. Mather Group LLC. now owns 622,215 shares of the closed-end fund's stock valued at $12,625,000 after acquiring an additional 21,592 shares in the last quarter. Verity Asset Management Inc. raised its stake in shares of Franklin Resources by 15.3% in the fourth quarter. Verity Asset Management Inc. now owns 19,656 shares of the closed-end fund's stock valued at $399,000 after acquiring an additional 2,605 shares in the last quarter. Dupree Financial Group LLC acquired a new stake in shares of Franklin Resources in the fourth quarter valued at $2,713,000. Finally, Symphony Financial Ltd. Co. raised its stake in shares of Franklin Resources by 86.9% in the fourth quarter. Symphony Financial Ltd. Co. now owns 58,020 shares of the closed-end fund's stock valued at $1,148,000 after acquiring an additional 26,982 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of BEN stock opened at $20.28 on Tuesday. The stock's 50-day moving average is $20.66 and its two-hundred day moving average is $20.87. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.14 and a beta of 1.42. Franklin Resources, Inc. has a 1 year low of $18.83 and a 1 year high of $28.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.63 and a current ratio of 1.66.
Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly 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 quarter last year, the company earned $0.65 EPS. Analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources's dividend payout ratio is currently 196.93%.
BEN has been the topic of several analyst reports. TD Cowen reduced their price objective on Franklin Resources from $20.00 to $18.50 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley increased their target price on Franklin Resources from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Friday, December 20th. StockNews.com raised Franklin Resources from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Franklin Resources from $20.00 to $19.00 and set a "hold" rating on the stock in a report on Tuesday, November 5th. Finally, BMO Capital Markets increased their target price on Franklin Resources from $20.00 to $23.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.86.
Check Out Our Latest Stock Analysis on BEN
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider Franklin Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Resources wasn't on the list.
While Franklin Resources currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.