Franklin Resources, Inc. (NYSE:BEN) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC cut its stake in shares of Franklin Resources, Inc. (NYSE:BEN) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,790 shares of the closed-end fund’s stock after selling 1,141 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Franklin Resources were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BEN. Smartleaf Asset Management LLC grew its stake in shares of Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares during the period. Larson Financial Group LLC grew its stake in shares of Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 1,277 shares during the period. Brooklyn Investment Group acquired a new position in shares of Franklin Resources during the 3rd quarter worth $39,000. Principal Securities Inc. grew its stake in shares of Franklin Resources by 561.1% during the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after purchasing an additional 1,661 shares during the period. Finally, Assetmark Inc. acquired a new position in shares of Franklin Resources during the 3rd quarter worth $46,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BEN shares. JPMorgan Chase & Co. lowered their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Wells Fargo & Company increased their price objective on shares of Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays increased their price objective on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, Franklin Resources presently has a consensus rating of “Hold” and an average target price of $20.86.

Franklin Resources Price Performance

NYSE:BEN opened at $20.29 on Monday. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. Franklin Resources, Inc. has a 12-month low of $18.83 and a 12-month high of $28.61. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average is $20.24 and its two-hundred day moving average is $20.68.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 company posted $0.65 EPS. Research analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.31%. Franklin Resources’s payout ratio is currently 196.92%.

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.