Franklin Resources, Inc. (BEN) To Go Ex-Dividend on December 30th

Franklin Resources, Inc. (NYSE:BEN) declared a quarterly dividend on Wednesday, December 17th. Stockholders of record on Tuesday, December 30th will be given a dividend of 0.33 per share by the closed-end fund on Friday, January 9th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, December 30th. This is a 3.1% increase from Franklin Resources’s previous quarterly dividend of $0.32.

Franklin Resources has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 45 consecutive years. Franklin Resources has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Franklin Resources to earn $2.42 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 52.9%.

Franklin Resources Price Performance

Shares of NYSE:BEN opened at $23.86 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.40 and a current ratio of 1.40. Franklin Resources has a 52 week low of $16.25 and a 52 week high of $26.08. The firm has a market cap of $12.43 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.47. The firm’s fifty day moving average is $22.71 and its 200-day moving average is $23.63.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, November 7th. The closed-end fund reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Franklin Resources had a return on equity of 9.12% and a net margin of 5.98%.The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company earned $0.59 EPS. Franklin Resources’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Franklin Resources will post 2.16 earnings per share for the current year.

Institutional Trading of Franklin Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. Capital A Wealth Management LLC lifted its holdings in shares of Franklin Resources by 3,869.2% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 1,006 shares in the last quarter. Root Financial Partners LLC bought a new stake in Franklin Resources in the 3rd quarter worth about $25,000. Total Investment Management Inc. bought a new stake in Franklin Resources during the second quarter worth $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Franklin Resources by 129.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock worth $30,000 after buying an additional 740 shares during the last quarter. Finally, Consultiva Wealth Management CORP. grew its position in shares of Franklin Resources by 177.1% during the 2nd quarter. Consultiva Wealth Management CORP. now owns 1,283 shares of the closed-end fund’s stock valued at $31,000 after acquiring an additional 820 shares during the period. 47.56% of the stock is owned by institutional investors.

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.