Lido Advisors LLC purchased a new stake in Franklin Resources, Inc. (NYSE:BEN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 40,497 shares of the closed-end fund’s stock, valued at approximately $1,023,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV raised its holdings in Franklin Resources by 1.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,220 shares of the closed-end fund’s stock valued at $830,000 after acquiring an additional 578 shares during the period. Meeder Asset Management Inc. raised its holdings in Franklin Resources by 86.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,277 shares of the closed-end fund’s stock valued at $26,000 after acquiring an additional 593 shares during the period. Cambria Investment Management L.P. raised its holdings in Franklin Resources by 2.6% in the 3rd quarter. Cambria Investment Management L.P. now owns 24,297 shares of the closed-end fund’s stock valued at $494,000 after acquiring an additional 623 shares during the period. Daiwa Securities Group Inc. raised its holdings in Franklin Resources by 4.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,613 shares of the closed-end fund’s stock valued at $297,000 after acquiring an additional 633 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in Franklin Resources by 3.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 19,718 shares of the closed-end fund’s stock valued at $401,000 after acquiring an additional 650 shares during the period. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BEN opened at $27.34 on Tuesday. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.38 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a 50 day simple moving average of $26.52 and a 200 day simple moving average of $23.07. Franklin Resources, Inc. has a one year low of $14.91 and a one year high of $28.59.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Monday, February 1st. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Franklin Resources had a net margin of 14.15% and a return on equity of 12.15%. The company’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, analysts expect that Franklin Resources, Inc. will post 3.01 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, March 30th. Franklin Resources’s payout ratio is currently 42.91%.

A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Franklin Resources from $22.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 28th. Barclays increased their target price on shares of Franklin Resources from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, January 25th. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Tuesday, December 29th. Credit Suisse Group increased their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 3rd. Finally, Keefe, Bruyette & Woods lowered shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research report on Monday, November 23rd. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.83.

In related news, Director Mariann H. Byerwalter sold 1,826 shares of Franklin Resources stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $23.97, for a total transaction of $43,769.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alok Sethi sold 10,000 shares of Franklin Resources stock in a transaction on Friday, February 12th. The stock was sold at an average price of $27.64, for a total transaction of $276,400.00. The disclosure for this sale can be found here. Insiders have sold 13,653 shares of company stock valued at $360,656 in the last ninety days. Insiders own 23.10% of the company’s stock.

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.

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

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