Ironwood Investment Counsel LLC Buys 1,034 Shares of Franklin Resources, Inc. (NYSE:BEN)

Ironwood Investment Counsel LLC raised its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,496 shares of the closed-end fund’s stock after purchasing an additional 1,034 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Franklin Resources were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BEN. Smartleaf Asset Management LLC lifted its holdings in Franklin Resources by 44.5% during the 4th 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 in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Franklin Resources by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock valued at $1,402,000 after buying an additional 572 shares during the period. Hardy Reed LLC lifted its holdings in shares of Franklin Resources by 3.7% in the fourth quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund’s stock worth $339,000 after buying an additional 591 shares in the last quarter. Anchor Investment Management LLC boosted its position in shares of Franklin Resources by 30.2% in the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after acquiring an additional 604 shares during the period. Finally, SkyView Investment Advisors LLC grew its stake in Franklin Resources by 3.2% during the third quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock valued at $393,000 after acquiring an additional 609 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Performance

Shares of BEN stock opened at $18.92 on Friday. The stock has a fifty day moving average of $20.10 and a 200 day moving average of $20.57. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.31 and a beta of 1.42. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources, Inc. has a 52 week low of $18.83 and a 52 week high of $28.15.

Franklin Resources (NYSE:BEN) last posted its earnings results 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 return on equity of 9.45% and a net margin of 4.32%. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, research analysts expect that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given 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 6.77%. Franklin Resources’s dividend payout ratio is currently 196.92%.

Wall Street Analyst Weigh In

BEN has been the subject of several analyst reports. Barclays raised their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets lifted their price objective on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and increased their target price for the company from $21.00 to $22.00 in a research note on Monday, January 6th. Four 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.com, the company currently has an average 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.