Kestra Investment Management LLC Acquires 18,903 Shares of Franklin Resources, Inc. (NYSE:BEN)

Kestra Investment Management LLC boosted its holdings in Franklin Resources, Inc. (NYSE:BEN) by 105.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,791 shares of the closed-end fund’s stock after purchasing an additional 18,903 shares during the period. Kestra Investment Management LLC’s holdings in Franklin Resources were worth $746,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new stake in Franklin Resources in the third quarter worth $26,000. Larson Financial Group LLC increased its position in shares of Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after acquiring an additional 1,277 shares during the period. Brooklyn Investment Group purchased a new position in shares of Franklin Resources in the third quarter valued at about $39,000. Principal Securities Inc. increased its position in shares of Franklin Resources by 561.1% in the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after acquiring an additional 1,661 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Franklin Resources in the third quarter valued at about $41,000. 47.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BEN shares. JPMorgan Chase & Co. decreased their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.86.

Franklin Resources Price Performance

Shares of BEN opened at $20.90 on Wednesday. The stock has a market cap of $10.98 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.63 and a current ratio of 1.66. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61. The firm’s 50-day simple moving average is $20.41 and its two-hundred day simple moving average is $20.76.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same period in the previous year, the firm earned $0.65 EPS. Analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.13%. Franklin Resources’s dividend payout ratio is presently 196.93%.

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.