Franklin Resources, Inc. (NYSE:BEN) Short Interest Update

Franklin Resources, Inc. (NYSE:BENGet Free Report) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 13,190,000 shares, an increase of 37.4% from the January 15th total of 9,600,000 shares. Currently, 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,460,000 shares, the short-interest ratio is presently 3.8 days.

Analysts Set New Price Targets

BEN has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Franklin Resources from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Friday, January 19th. BMO Capital Markets raised their target price on shares of Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, January 30th. UBS Group raised their target price on shares of Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Finally, StockNews.com lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, Franklin Resources has an average rating of “Hold” and an average target price of $27.05.

Read Our Latest Report on BEN

Insider Activity

In other news, EVP Alok Sethi sold 25,000 shares of Franklin Resources stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $25.38, for a total transaction of $634,500.00. Following the sale, the executive vice president now owns 92,481 shares in the company, valued at $2,347,167.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 24.13% of the company’s stock.

Hedge Funds Weigh In On Franklin Resources

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Franklin Resources by 4.3% during the first quarter. Vanguard Group Inc. now owns 34,072,606 shares of the closed-end fund’s stock worth $951,307,000 after acquiring an additional 1,390,583 shares during the last quarter. State Street Corp grew its stake in shares of Franklin Resources by 1.5% during the second quarter. State Street Corp now owns 31,757,992 shares of the closed-end fund’s stock worth $857,583,000 after acquiring an additional 472,954 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Franklin Resources by 1.2% during the second quarter. Capital Research Global Investors now owns 22,599,210 shares of the closed-end fund’s stock worth $603,625,000 after acquiring an additional 258,698 shares during the last quarter. Invesco Ltd. grew its stake in shares of Franklin Resources by 6.8% during the third quarter. Invesco Ltd. now owns 6,563,774 shares of the closed-end fund’s stock worth $161,338,000 after acquiring an additional 415,512 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Franklin Resources by 12.0% during the second quarter. ProShare Advisors LLC now owns 6,489,568 shares of the closed-end fund’s stock worth $173,336,000 after acquiring an additional 696,750 shares during the last quarter. 46.53% of the stock is currently owned by institutional investors.

Franklin Resources Stock Performance

BEN stock opened at $28.11 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50-day moving average price of $28.01 and a 200 day moving average price of $26.09. The company has a market capitalization of $14.80 billion, a P/E ratio of 14.79, a PEG ratio of 1.40 and a beta of 1.41. Franklin Resources has a 1-year low of $21.88 and a 1-year high of $31.93.

Franklin Resources (NYSE:BENGet Free Report) last announced its earnings results on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.51 billion. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts forecast that Franklin Resources will post 2.49 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.24 dividend on an annualized basis and a yield of 4.41%. Franklin Resources’s dividend payout ratio is presently 65.26%.

About Franklin Resources

(Get Free Report)

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.

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