Franklin Resources, Inc. (NYSE:BEN) Shares Bought by Matrix Trust Co

Matrix Trust Co raised its position in Franklin Resources, Inc. (NYSE:BEN) by 693.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,404 shares of the closed-end fund’s stock after acquiring an additional 9,966 shares during the quarter. Matrix Trust Co’s holdings in Franklin Resources were worth $231,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its position in Franklin Resources by 2.9% in the third quarter. State Street Corp now owns 21,155,516 shares of the closed-end fund’s stock valued at $432,730,000 after acquiring an additional 599,045 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Franklin Resources by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,334,601 shares of the closed-end fund’s stock worth $147,312,000 after buying an additional 422,688 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Franklin Resources by 10.5% during the second quarter. ProShare Advisors LLC now owns 7,095,390 shares of the closed-end fund’s stock worth $158,582,000 after buying an additional 676,760 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Franklin Resources by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,183,950 shares of the closed-end fund’s stock worth $71,171,000 after buying an additional 54,063 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Franklin Resources by 44.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock worth $60,421,000 after buying an additional 925,590 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Performance

Shares of BEN opened at $19.08 on Monday. The firm has a 50-day moving average price of $21.30 and a 200 day moving average price of $21.25. The firm has a market capitalization of $10.00 billion, a PE ratio of 22.19, a P/E/G ratio of 2.38 and a beta of 1.41. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92. Franklin Resources, Inc. has a 52-week low of $18.94 and a 52-week high of $29.13.

Franklin Resources (NYSE:BEN) last announced its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.39 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Monday, December 30th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.71%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, December 30th. Franklin Resources’s dividend payout ratio is presently 148.84%.

Insider Buying and Selling at Franklin Resources

In other Franklin Resources news, insider Franklin Resources Inc sold 7,900 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $43.71, for a total value of $345,309.00. Following the completion of the sale, the insider now directly owns 36,519 shares of the company’s stock, valued at approximately $1,596,245.49. This represents a 17.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. TD Cowen decreased their price objective on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Franklin Resources from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and upped their price target for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and an average target price of $20.73.

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.