Franklin Resources, Inc. (NYSE:BEN) Stock Position Boosted by AXQ Capital LP

AXQ Capital LP grew its holdings in Franklin Resources, Inc. (NYSE:BEN) by 30.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,028 shares of the closed-end fund’s stock after acquiring an additional 20,704 shares during the period. Franklin Resources comprises approximately 0.8% of AXQ Capital LP’s holdings, making the stock its 7th biggest holding. AXQ Capital LP’s holdings in Franklin Resources were worth $1,806,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Franklin Resources by 263.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock worth $40,744,000 after buying an additional 1,465,148 shares during the period. Amundi increased its stake in Franklin Resources by 62.9% during the 4th quarter. Amundi now owns 3,752,326 shares of the closed-end fund’s stock worth $75,928,000 after buying an additional 1,449,210 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Franklin Resources by 44.7% during the 3rd 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 during the period. Vest Financial LLC increased its stake in Franklin Resources by 32.1% during the 4th quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund’s stock worth $59,316,000 after buying an additional 709,736 shares during the period. Finally, State Street Corp increased its stake in Franklin Resources by 2.9% during the 3rd quarter. State Street Corp now owns 21,155,516 shares of the closed-end fund’s stock worth $432,730,000 after buying an additional 599,045 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Trading Down 0.8 %

NYSE BEN opened at $19.86 on Friday. Franklin Resources, Inc. has a one year low of $18.83 and a one year high of $28.15. The company has a 50-day simple moving average of $20.10 and a 200-day simple moving average of $20.55. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $10.43 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last posted 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 quarter last year, the business posted $0.65 earnings per share. On average, equities analysts forecast that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.92%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a research note 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 for the company in a research report on Thursday, January 16th. UBS Group boosted their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.86.

Franklin Resources 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.