Frank Rimerman Advisors LLC Takes Position in Franklin Resources, Inc. (NYSE:BEN)

Frank Rimerman Advisors LLC bought a new stake in Franklin Resources, Inc. (NYSE:BEN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,830 shares of the closed-end fund’s stock, valued at approximately $565,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 505 shares in the last quarter. Larson Financial Group LLC raised its holdings 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 acquiring an additional 1,277 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Franklin Resources in the third quarter valued at $39,000. Principal Securities Inc. raised its holdings in shares of 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 purchasing an additional 1,661 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of Franklin Resources during the third quarter worth $46,000. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BEN shares. Keefe, Bruyette & Woods increased their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets increased their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, Franklin Resources currently has an average rating of “Hold” and a consensus target price of $20.86.

Franklin Resources Stock Up 3.4 %

Franklin Resources stock opened at $19.56 on Monday. The company has a 50-day simple moving average of $20.08 and a 200-day simple moving average of $20.57. The firm has a market capitalization of $10.27 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.31 and a beta of 1.42. 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 one year low of $18.83 and a one year high of $28.15.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (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 period last year, the firm posted $0.65 earnings per share. As a group, equities analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The business also recently announced 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 yield of 6.55%. Franklin Resources’s dividend payout ratio 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.