RK Asset Management LLC acquired a new stake in Franklin Resources, Inc. (NYSE:BEN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 153,922 shares of the closed-end fund’s stock, valued at approximately $4,556,000. Franklin Resources makes up 4.1% of RK Asset Management LLC’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in BEN. Global Trust Asset Management LLC acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $27,000. Perigon Wealth Management LLC acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $27,000. Childress Capital Advisors LLC acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $27,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $31,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 45.74% of the company’s stock.

In other Franklin Resources news, EVP Jed A. Plafker sold 20,782 shares of Franklin Resources stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $28.67, for a total transaction of $595,819.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alok Sethi sold 39,890 shares of Franklin Resources stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $27.09, for a total transaction of $1,080,620.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,672 shares of company stock valued at $2,104,440. 23.10% of the stock is currently owned by company insiders.

Several research analysts have issued reports on the stock. The Goldman Sachs Group downgraded shares of Franklin Resources from a “neutral” rating to a “sell” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, January 5th. Barclays lifted their target price on shares of Franklin Resources from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Monday, January 25th. Credit Suisse Group lifted their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the company an “underperform” rating in a report on Wednesday, February 3rd. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, December 29th. Finally, BMO Capital Markets raised shares of Franklin Resources from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $22.00 to $36.00 in a report on Monday, March 29th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $24.52.

BEN stock traded down $0.24 during trading on Thursday, reaching $30.21. 24,932 shares of the company were exchanged, compared to its average volume of 3,594,761. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $15.27 billion, a P/E ratio of 18.89, a PEG ratio of 1.38 and a beta of 1.25. The stock’s 50 day moving average price is $28.39 and its 200 day moving average price is $24.65. Franklin Resources, Inc. has a 52-week low of $14.91 and a 52-week high of $30.73.

Franklin Resources (NYSE:BEN) last announced its earnings results on Monday, February 1st. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Franklin Resources had a net margin of 14.15% and a return on equity of 12.15%. The firm’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. As a group, equities research analysts forecast that Franklin Resources, Inc. will post 3.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, March 30th. Franklin Resources’s payout ratio is currently 42.91%.

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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