CIBC Asset Management Inc Grows Stock Position in Franklin Resources, Inc. (NYSE:BEN)

CIBC Asset Management Inc lifted its position in Franklin Resources, Inc. (NYSE:BEN) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,818 shares of the closed-end fund’s stock after purchasing an additional 1,615 shares during the quarter. CIBC Asset Management Inc’s holdings in Franklin Resources were worth $1,214,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Franklin Resources by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock worth $1,402,000 after purchasing an additional 572 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Franklin Resources by 30.2% in the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after purchasing an additional 604 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Franklin Resources by 3.2% in the third quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock worth $393,000 after purchasing an additional 609 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Franklin Resources by 29.4% in the fourth quarter. Blue Trust Inc. now owns 2,677 shares of the closed-end fund’s stock worth $54,000 after purchasing an additional 609 shares during the last quarter. Finally, International Private Wealth Advisors LLC raised its stake in shares of Franklin Resources by 5.0% in the fourth quarter. International Private Wealth Advisors LLC now owns 13,518 shares of the closed-end fund’s stock worth $274,000 after purchasing an additional 646 shares during the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Resources Stock Down 1.1 %

Shares of BEN opened at $20.50 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.61. The stock’s 50 day moving average is $20.30 and its two-hundred day moving average is $20.75. The firm has a market cap of $10.77 billion, a P/E ratio of 31.53, a PEG ratio of 2.15 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same period last year, the company earned $0.65 EPS. Analysts predict that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio is presently 196.93%.

Analyst Ratings Changes

BEN has been the subject of several research analyst reports. Barclays raised their price objective on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. TD Cowen reduced their price target on Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, Franklin Resources presently has a consensus rating of “Hold” and a consensus price target of $20.86.

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.