1,629 Shares in Franklin Resources, Inc. (NYSE:BEN) Acquired by Planned Solutions Inc.

Planned Solutions Inc. acquired a new position in Franklin Resources, Inc. (NYSE:BEN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,629 shares of the closed-end fund’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peoples Bank KS bought a new position in Franklin Resources in the 3rd quarter worth approximately $25,000. Resurgent Financial Advisors LLC bought a new position in Franklin Resources in the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV bought a new position in Franklin Resources in the 4th quarter worth approximately $31,000. Eagle Bay Advisors LLC bought a new position in Franklin Resources in the 2nd quarter worth approximately $26,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings 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 buying an additional 665 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Trading Up 1.8 %

NYSE BEN opened at $28.12 on Friday. Franklin Resources, Inc. has a 1-year low of $21.88 and a 1-year high of $30.32. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $14.81 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.40. The firm’s fifty day simple moving average is $27.29 and its 200-day simple moving average is $26.15.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business posted $0.51 earnings per share. Franklin Resources’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Franklin Resources, Inc. will post 2.51 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Wednesday, March 27th. Franklin Resources’s dividend payout ratio (DPR) is presently 65.26%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BEN shares. StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft cut their target price on Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Morgan Stanley upped their target price on Franklin Resources from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Friday, January 19th. UBS Group upped their target price on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, BMO Capital Markets increased their price objective on Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.05.

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.