Nisa Investment Advisors LLC Has $3.03 Million Stock Holdings in Franklin Resources, Inc. (NYSE:BEN)

Nisa Investment Advisors LLC lessened its stake in Franklin Resources, Inc. (NYSE:BEN) by 79.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,809 shares of the closed-end fund’s stock after selling 401,031 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Franklin Resources were worth $3,033,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in shares of Franklin Resources by 15.9% during the 4th quarter. Allworth Financial LP now owns 8,351 shares of the closed-end fund’s stock worth $249,000 after purchasing an additional 1,144 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Franklin Resources in the 4th quarter valued at $4,555,000. Asset Management One Co. Ltd. grew its stake in Franklin Resources by 1.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 116,064 shares of the closed-end fund’s stock valued at $3,489,000 after buying an additional 1,638 shares during the last quarter. LMG Wealth Partners LLC grew its stake in Franklin Resources by 12.7% in the 4th quarter. LMG Wealth Partners LLC now owns 83,449 shares of the closed-end fund’s stock valued at $2,486,000 after buying an additional 9,400 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Franklin Resources by 17.2% in the 4th quarter. Fifth Third Bancorp now owns 12,587 shares of the closed-end fund’s stock valued at $375,000 after buying an additional 1,846 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Trading Down 3.3 %

BEN opened at $25.41 on Friday. Franklin Resources, Inc. has a 1-year low of $21.88 and a 1-year high of $30.32. The firm has a 50-day moving average price of $27.24 and a two-hundred day moving average price of $26.26. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.38 billion, a PE ratio of 13.37, a PEG ratio of 1.40 and a beta of 1.40.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned $0.51 EPS. Franklin Resources’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Franklin Resources, Inc. will post 2.52 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin Resources’s dividend payout ratio is 65.26%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BEN. BMO Capital Markets raised their target price on shares of Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Morgan Stanley raised their target price on shares of Franklin Resources from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Friday, January 19th. TD Cowen began coverage on shares of Franklin Resources in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target for the company. StockNews.com downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $30.00 in a report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.05.

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.