Ferguson Wellman Capital Management Inc. Cuts Position in Franklin Resources, Inc. (NYSE:BEN)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Franklin Resources, Inc. (NYSE:BEN) by 43.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,500 shares of the closed-end fund’s stock after selling 15,715 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Franklin Resources were worth $416,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Franklin Resources by 0.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock worth $1,402,000 after acquiring an additional 572 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Franklin Resources by 30.2% in the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after acquiring an additional 604 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of Franklin Resources by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock worth $393,000 after acquiring an additional 609 shares in the last quarter. Blue Trust Inc. raised its position in shares of Franklin Resources by 29.4% in the 4th quarter. Blue Trust Inc. now owns 2,677 shares of the closed-end fund’s stock worth $54,000 after acquiring an additional 609 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Franklin Resources by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,918 shares of the closed-end fund’s stock worth $683,000 after acquiring an additional 722 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Stock Down 0.8 %

Franklin Resources stock opened at $20.28 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.63 and a current ratio of 1.66. The business’s 50-day simple moving average is $20.66 and its two-hundred day simple moving average is $20.87. The company has a market cap of $10.65 billion, a PE ratio of 31.19, a PEG ratio of 2.14 and a beta of 1.42. Franklin Resources, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $28.61.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same quarter in the prior year, the firm posted $0.65 EPS. Equities analysts anticipate that Franklin Resources, Inc. 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 11th. Stockholders of record on Monday, March 31st will be paid a $0.32 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.31%. Franklin Resources’s payout ratio is 196.93%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BEN. Morgan Stanley boosted their price target on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. TD Cowen reduced their price target on Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Barclays boosted their target price on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. StockNews.com upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. dropped their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.86.

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.