Czech National Bank Buys 4,143 Shares of Franklin Resources, Inc. (NYSE:BEN)

Czech National Bank raised its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 6.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 67,001 shares of the closed-end fund’s stock after purchasing an additional 4,143 shares during the quarter. Czech National Bank’s holdings in Franklin Resources were worth $1,359,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BEN. MFA Wealth Advisors LLC acquired a new stake in shares of Franklin Resources during the third quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in Franklin Resources during the second quarter valued at $27,000. Matrix Trust Co acquired a new stake in Franklin Resources during the 3rd quarter worth about $29,000. Larson Financial Group LLC boosted its position in shares of Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Franklin Resources during the third quarter worth approximately $39,000. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Down 1.0 %

BEN stock opened at $19.42 on Friday. The stock’s 50 day moving average is $21.21 and its 200-day moving average is $21.20. Franklin Resources, Inc. has a twelve month low of $18.83 and a twelve month high of $28.61. The firm has a market capitalization of $10.18 billion, a PE ratio of 22.59, a P/E/G ratio of 2.06 and a beta of 1.41. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. Franklin Resources’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Franklin Resources, Inc. will post 2.38 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Monday, December 30th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date was Monday, December 30th. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. Franklin Resources’s payout ratio is presently 148.84%.

Analyst Ratings Changes

BEN has been the topic of several recent analyst reports. Evercore ISI dropped their price target on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating on the stock in a research note on Friday, October 4th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $19.00 target price (down from $20.00) on shares of Franklin Resources in a research note on Tuesday, November 5th. TD Cowen reduced their price target on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a report on Tuesday, November 5th. Barclays upped their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company decreased their target price on Franklin Resources from $22.50 to $20.50 and set an “equal weight” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.36.

About Franklin Resources

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.