Franklin Resources, Inc. (NYSE:BEN) Plans Quarterly Dividend of $0.33

Franklin Resources, Inc. (NYSE:BEN) announced a quarterly dividend on Tuesday, February 3rd. Investors of record on Tuesday, March 31st will be paid a dividend of 0.33 per share by the closed-end fund on Friday, April 10th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, March 31st.

Franklin Resources has raised its dividend payment 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 58.4% indicating that its dividend is sufficiently covered by earnings. 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 $1.32 annual dividend with an expected future payout ratio of 54.5%.

Franklin Resources Stock Up 3.2%

Franklin Resources stock traded up $0.85 during trading on Wednesday, reaching $27.85. The stock had a trading volume of 5,877,005 shares, compared to its average volume of 5,934,863. The company has a quick ratio of 1.40, a current ratio of 1.86 and a debt-to-equity ratio of 1.01. Franklin Resources has a 52-week low of $16.25 and a 52-week high of $27.85. The stock has a market cap of $14.50 billion, a PE ratio of 25.79, a P/E/G ratio of 1.28 and a beta of 1.46. The business has a 50 day moving average price of $24.48 and a 200 day moving average price of $24.06.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $2.23 billion. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. On average, analysts predict that Franklin Resources will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Franklin Resources

Several large investors have recently modified their holdings of the company. Capital A Wealth Management LLC increased 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 valued at $25,000 after acquiring an additional 1,006 shares during the period. Root Financial Partners LLC purchased a new position in Franklin Resources during the 3rd quarter worth $25,000. Danske Bank A S acquired a new position in Franklin Resources in the fourth quarter valued at $26,000. Total Investment Management Inc. purchased a new stake in shares of Franklin Resources in the second quarter valued at about $27,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Franklin Resources by 277.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after buying an additional 845 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.