Czech National Bank Increases Stock Position in Franklin Resources, Inc. (NYSE:BEN)

Czech National Bank grew its holdings in shares of Franklin Resources, Inc. (NYSE:BEN) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,802 shares of the closed-end fund’s stock after buying an additional 3,426 shares during the period. Czech National Bank’s holdings in Franklin Resources were worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. grew its holdings in Franklin Resources by 240.5% in the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 623 shares during the period. Creative Financial Designs Inc. ADV bought a new position in Franklin Resources during the 4th quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its stake in Franklin Resources by 149.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock valued at $33,000 after buying an additional 665 shares during the last quarter. Tobam boosted its holdings in Franklin Resources by 2,170.0% in the fourth quarter. Tobam now owns 1,135 shares of the closed-end fund’s stock worth $34,000 after acquiring an additional 1,085 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Franklin Resources in the fourth quarter worth $35,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Trading Up 1.0 %

NYSE:BEN opened at $22.83 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.90. Franklin Resources, Inc. has a 12 month low of $21.57 and a 12 month high of $30.32. The company has a market cap of $12.01 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.96 and a beta of 1.44. The company has a 50 day simple moving average of $23.60 and a two-hundred day simple moving average of $26.26.

Franklin Resources (NYSE:BEN) last posted its earnings results on Monday, April 29th. The closed-end fund reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Franklin Resources had a return on equity of 10.82% and a net margin of 11.09%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts forecast that Franklin Resources, Inc. will post 2.47 earnings per share for the current year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Friday, June 28th. Franklin Resources’s dividend payout ratio (DPR) is presently 70.86%.

Analyst Upgrades and Downgrades

BEN has been the topic of a number of analyst reports. Morgan Stanley upped their price target on shares of Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Evercore ISI dropped their target price on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 30th. TD Cowen reduced their price target on shares of Franklin Resources from $29.00 to $25.50 and set a “hold” rating for the company in a research report on Tuesday, April 30th. BMO Capital Markets reduced their price target on shares of Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Franklin Resources from $29.00 to $24.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

Franklin Resources 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.