GeoWealth Management LLC Has $26,000 Stock Position in Franklin Resources, Inc. (NYSE:BEN)

GeoWealth Management LLC raised its holdings in Franklin Resources, Inc. (NYSE:BEN) by 350.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,261 shares of the closed-end fund’s stock after purchasing an additional 981 shares during the quarter. GeoWealth Management LLC’s holdings in Franklin Resources were worth $26,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Franklin Resources in the fourth quarter valued at about $53,676,000. JPMorgan Chase & Co. boosted its stake in shares of Franklin Resources by 263.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock valued at $40,744,000 after purchasing an additional 1,465,148 shares in the last quarter. Amundi grew its holdings in shares of Franklin Resources by 62.9% during the 4th quarter. Amundi now owns 3,752,326 shares of the closed-end fund’s stock valued at $75,928,000 after purchasing an additional 1,449,210 shares during the last quarter. Vanguard Group Inc. increased its position in Franklin Resources by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund’s stock worth $765,254,000 after purchasing an additional 1,095,373 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Franklin Resources by 9.4% in the 4th quarter. Invesco Ltd. now owns 11,721,446 shares of the closed-end fund’s stock valued at $237,828,000 after purchasing an additional 1,011,755 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Down 0.1 %

Shares of Franklin Resources stock opened at $18.73 on Friday. 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, Inc. has a 52 week low of $16.25 and a 52 week high of $25.11. The stock has a 50 day moving average price of $19.11 and a two-hundred day moving average price of $20.24. The stock has a market capitalization of $9.84 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.31 and a beta of 1.36.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results 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 net margin of 4.32% and a return on equity of 9.45%. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.28 annualized dividend and a yield of 6.83%. Franklin Resources’s payout ratio is 196.92%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Franklin Resources from $21.50 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. TD Cowen reduced their price objective on Franklin Resources from $20.00 to $17.50 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Bank of America dropped their target price on Franklin Resources from $20.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reduced their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley dropped their price objective on shares of Franklin Resources from $18.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, April 7th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, Franklin Resources presently has a consensus rating of “Hold” and a consensus target price of $18.96.

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.