Bryn Mawr Capital Management LLC Sells 5,780 Shares of Franklin Resources, Inc. (NYSE:BEN)

Bryn Mawr Capital Management LLC lessened its stake in Franklin Resources, Inc. (NYSE:BEN) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,271 shares of the closed-end fund’s stock after selling 5,780 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Franklin Resources were worth $8,647,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in Franklin Resources by 240.5% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 623 shares during the last quarter. Peoples Bank KS bought a new position in Franklin Resources in the 3rd quarter worth approximately $25,000. Creative Financial Designs Inc. ADV bought a new position in Franklin Resources in the 4th quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV raised its position in Franklin Resources by 149.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 665 shares during the last quarter. Finally, Tobam raised its position in Franklin Resources by 2,170.0% in the 4th quarter. Tobam now owns 1,135 shares of the closed-end fund’s stock worth $34,000 after purchasing an additional 1,085 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

BEN opened at $24.99 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86. Franklin Resources, Inc. has a 12 month low of $21.88 and a 12 month high of $30.32. The company has a fifty day simple moving average of $26.87 and a 200 day simple moving average of $26.33. The stock has a market cap of $13.16 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.31 and a beta of 1.40.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts expect that Franklin Resources, Inc. will post 2.52 EPS for the current year.

Franklin Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Wednesday, March 27th. Franklin Resources’s dividend payout ratio is currently 65.26%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BEN shares. BMO Capital Markets boosted their price objective on shares of Franklin Resources from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. StockNews.com cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Wells Fargo & Company upgraded shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $24.00 to $30.00 in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Finally, TD Cowen started coverage on shares of Franklin Resources in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

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.