Alexander Randolph Advisory Inc. Makes New $2.76 Million Investment in Franklin Resources, Inc. (NYSE:BEN)

Alexander Randolph Advisory Inc. acquired a new position in Franklin Resources, Inc. (NYSE:BEN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 92,761 shares of the closed-end fund’s stock, valued at approximately $2,763,000. Franklin Resources accounts for 2.5% of Alexander Randolph Advisory Inc.’s holdings, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in BEN. Blue Trust Inc. increased its position in shares of Franklin Resources by 240.5% during the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after acquiring an additional 623 shares in the last quarter. Peoples Bank KS bought a new stake in shares of Franklin Resources during the third quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Franklin Resources during the fourth quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV increased its position in shares of Franklin Resources by 149.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 665 shares in the last quarter. Finally, Tobam increased its position in shares of Franklin Resources by 2,170.0% during the fourth quarter. Tobam now owns 1,135 shares of the closed-end fund’s stock valued at $34,000 after acquiring an additional 1,085 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BEN shares. TD Cowen started coverage on shares of Franklin Resources in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price for the company. StockNews.com downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. 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 research report on Tuesday, January 30th. Morgan Stanley lifted their price target on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Finally, BMO Capital Markets lifted their price target on shares of Franklin Resources from $27.00 to $30.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Franklin Resources presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Franklin Resources Price Performance

NYSE BEN traded down $0.10 on Friday, reaching $24.99. The company had a trading volume of 7,535,980 shares, compared to its average volume of 3,588,434. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.16 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40. The firm’s 50 day moving average price is $26.87 and its 200 day moving average price is $26.35. Franklin Resources, Inc. has a 12 month low of $21.88 and a 12 month high of $30.32.

Franklin Resources (NYSE:BEN) last posted its earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts predict that Franklin Resources, Inc. will post 2.52 earnings per share for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a $0.31 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.24 annualized dividend and a yield of 4.96%. Franklin Resources’s dividend payout ratio (DPR) is 65.26%.

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.