Raymond James & Associates decreased its holdings in Franklin Resources, Inc. (NYSE:BEN) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,430 shares of the closed-end fund’s stock after selling 18,991 shares during the period. Raymond James & Associates’ holdings in Franklin Resources were worth $5,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in shares of Franklin Resources by 1.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 512,870 shares of the closed-end fund’s stock valued at $15,603,000 after buying an additional 5,708 shares in the last quarter. Chicago Equity Partners LLC increased its position in Franklin Resources by 58.7% during the 3rd quarter. Chicago Equity Partners LLC now owns 11,435 shares of the closed-end fund’s stock worth $348,000 after purchasing an additional 4,230 shares in the last quarter. Wells Fargo & Company MN increased its position in Franklin Resources by 6.5% during the 3rd quarter. Wells Fargo & Company MN now owns 697,731 shares of the closed-end fund’s stock worth $21,218,000 after purchasing an additional 42,590 shares in the last quarter. American Century Companies Inc. increased its position in Franklin Resources by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 785,933 shares of the closed-end fund’s stock worth $23,900,000 after purchasing an additional 154,601 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Franklin Resources by 42.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 66,305 shares of the closed-end fund’s stock worth $2,016,000 after purchasing an additional 19,920 shares in the last quarter. Hedge funds and other institutional investors own 48.99% of the company’s stock.

Shares of NYSE BEN opened at $33.32 on Friday. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.07. Franklin Resources, Inc. has a 52-week low of $27.34 and a 52-week high of $39.28. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Wednesday, January 30th. The closed-end fund reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.10). Franklin Resources had a net margin of 26.55% and a return on equity of 15.01%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company posted $0.88 earnings per share. The company’s revenue was down 7.6% compared to the same quarter last year. As a group, research analysts expect that Franklin Resources, Inc. will post 2.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, March 28th. Franklin Resources’s dividend payout ratio (DPR) is currently 32.60%.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,663 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.82, for a total value of $349,959.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.90% of the company’s stock.

BEN has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price objective on shares of Franklin Resources in a research report on Tuesday, February 26th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective on shares of Franklin Resources in a research report on Wednesday, January 9th. Zacks Investment Research upgraded shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Barclays reiterated a “sell” rating and set a $23.00 price objective on shares of Franklin Resources in a research report on Thursday, January 10th. Seven analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Franklin Resources presently has a consensus rating of “Hold” and an average price target of $29.77.

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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.

Read More: Net Margin

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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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