Short Interest in Franklin Resources, Inc. (NYSE:BEN) Declines By 12.5%

Franklin Resources, Inc. (NYSE:BEN) was the recipient of a large decrease in short interest in February. As of February 27th, there was short interest totaling 22,292,549 shares, a decrease of 12.5% from the February 12th total of 25,489,737 shares. Based on an average daily trading volume, of 5,003,843 shares, the days-to-cover ratio is presently 4.5 days. Approximately 5.6% of the company’s shares are short sold. Approximately 5.6% of the company’s shares are short sold. Based on an average daily trading volume, of 5,003,843 shares, the days-to-cover ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore lifted their target price on Franklin Resources from $26.00 to $28.00 and gave the company an “underperform” rating in a research note on Monday, February 2nd. Barclays upped their price target on Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Thursday, January 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a research report on Monday, December 29th. TD Cowen reissued a “hold” rating on shares of Franklin Resources in a report on Monday, February 2nd. Finally, Morgan Stanley upped their target price on shares of Franklin Resources from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $25.89.

Institutional Trading of Franklin Resources

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital A Wealth Management LLC boosted its stake in Franklin Resources by 3,869.2% during the 2nd quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock worth $25,000 after acquiring an additional 1,006 shares during the last quarter. Root Financial Partners LLC bought a new stake in Franklin Resources in the third quarter valued at approximately $25,000. Danske Bank A S acquired a new stake in Franklin Resources in the fourth quarter worth $26,000. Total Investment Management Inc. acquired a new stake in Franklin Resources in the second quarter worth $27,000. Finally, Rakuten Securities Inc. boosted its position 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 purchasing an additional 845 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

BEN stock opened at $24.38 on Tuesday. The business’s fifty day moving average is $26.29 and its 200-day moving average is $24.40. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.01. The company has a market cap of $12.70 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.46. Franklin Resources has a twelve month low of $16.25 and a twelve month high of $28.32.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 9.58% and a net margin of 6.97%.The firm’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. Equities research analysts forecast that Franklin Resources will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, March 31st. Franklin Resources’s payout ratio is presently 122.22%.

Franklin Resources Company Profile

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.