Stock Traders Purchase High Volume of Franklin Resources Put Options (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) was the recipient of some unusual options trading activity on Monday. Investors acquired 9,664 put options on the company. This is an increase of 509% compared to the typical volume of 1,586 put options.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays raised their price target on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $22.00 in a research report on Monday, January 6th. 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 note on Friday, December 20th. BMO Capital Markets raised their price objective on shares of Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their target price 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, Franklin Resources has a consensus rating of “Hold” and an average price target of $20.86.

Franklin Resources Stock Performance

Shares of NYSE BEN opened at $19.87 on Wednesday. The company has a market cap of $10.43 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. Franklin Resources has a 12 month low of $18.83 and a 12 month high of $28.15. The company has a 50-day simple moving average of $20.08 and a 200-day simple moving average of $20.56.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating 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 prior year, the business earned $0.65 earnings per share. On average, equities analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current 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 6.44%. Franklin Resources’s dividend payout ratio (DPR) is presently 196.92%.

Hedge Funds Weigh In On Franklin Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in shares of Franklin Resources by 147.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock valued at $25,000 after buying an additional 737 shares during the last quarter. GeoWealth Management LLC increased its holdings in shares of Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock valued at $26,000 after acquiring an additional 981 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Franklin Resources by 44.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares during the last quarter. Headlands Technologies LLC bought a new stake in Franklin Resources during the fourth quarter valued at $34,000. Finally, Larson Financial Group LLC raised its holdings in shares of Franklin Resources by 254.4% during the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 1,277 shares during the period. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Company Profile

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.