Franklin Resources, Inc. (NYSE:BEN) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its position in Franklin Resources, Inc. (NYSE:BEN) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,351 shares of the closed-end fund’s stock after acquiring an additional 1,533 shares during the period. MetLife Investment Management LLC’s holdings in Franklin Resources were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BEN. Virtu Financial LLC purchased a new stake in shares of Franklin Resources during the third quarter worth $880,000. SkyView Investment Advisors LLC grew its stake in Franklin Resources by 3.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock valued at $393,000 after acquiring an additional 609 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Franklin Resources by 30.2% in the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after acquiring an additional 604 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Franklin Resources in the 3rd quarter worth approximately $118,000. Finally, Retirement Systems of Alabama grew its position in shares of Franklin Resources by 2.0% in the third quarter. Retirement Systems of Alabama now owns 67,444 shares of the closed-end fund’s stock valued at $1,359,000 after purchasing an additional 1,297 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets boosted their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Barclays dropped their price objective on shares of Franklin Resources from $22.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. TD Cowen reduced their target price on shares of Franklin Resources from $20.00 to $17.50 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price target on shares of Franklin Resources from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.96.

Franklin Resources Stock Performance

Shares of BEN stock opened at $18.77 on Wednesday. The firm has a 50 day moving average of $19.03 and a two-hundred day moving average of $20.22. The stock has a market capitalization of $9.86 billion, a PE ratio of 28.87, a P/E/G ratio of 2.31 and a beta of 1.36. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 52 week low of $16.25 and a 52 week high of $24.86.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping the consensus estimate 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 business posted $0.65 earnings per share. On average, research analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend was Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is presently 196.92%.

Franklin Resources Company 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.