Franklin Resources, Inc. (NYSE:BEN) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Franklin Resources, Inc. (NYSE:BEN) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,990 shares of the closed-end fund’s stock after purchasing an additional 654 shares during the quarter. Mackenzie Financial Corp’s holdings in Franklin Resources were worth $1,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in shares of Franklin Resources by 8.1% in the 3rd quarter. IFP Advisors Inc now owns 14,464 shares of the closed-end fund’s stock worth $356,000 after acquiring an additional 1,088 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Franklin Resources in the 3rd quarter worth approximately $534,000. Czech National Bank lifted its holdings in shares of Franklin Resources by 47.1% in the 3rd quarter. Czech National Bank now owns 49,710 shares of the closed-end fund’s stock worth $1,222,000 after acquiring an additional 15,914 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Franklin Resources by 14.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 65,325 shares of the closed-end fund’s stock worth $1,606,000 after acquiring an additional 8,216 shares during the last quarter. Finally, My Legacy Advisors LLC lifted its holdings in shares of Franklin Resources by 8.5% in the 3rd quarter. My Legacy Advisors LLC now owns 11,694 shares of the closed-end fund’s stock worth $265,000 after acquiring an additional 920 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Trading Up 0.1 %

Shares of NYSE:BEN opened at $25.35 on Thursday. Franklin Resources, Inc. has a 52 week low of $21.88 and a 52 week high of $30.32. The company’s 50 day moving average is $26.96 and its two-hundred day moving average is $26.33. 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 cap of $13.35 billion, a PE ratio of 13.34, a P/E/G ratio of 1.34 and a beta of 1.40.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, beating 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 company 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 firm posted $0.51 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts predict that Franklin Resources, Inc. will post 2.52 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin Resources’s dividend payout ratio (DPR) is 65.26%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BEN. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, January 30th. UBS Group upped their target price on shares of Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $24.00 to $30.00 in a research note on Monday, January 8th. StockNews.com downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley upped their target price 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. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average target price of $27.50.

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.