AXQ Capital LP Has $1.81 Million Stake in Franklin Resources, Inc. (NYSE:BEN)

AXQ Capital LP increased its stake in Franklin Resources, Inc. (NYSE:BEN) by 30.3% in the 4th quarter, HoldingsChannel reports. The fund owned 89,028 shares of the closed-end fund’s stock after acquiring an additional 20,704 shares during the period. Franklin Resources accounts for approximately 0.8% of AXQ Capital LP’s holdings, making the stock its 7th largest holding. AXQ Capital LP’s holdings in Franklin Resources were worth $1,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Franklin Resources during the third quarter valued at approximately $345,000. PNC Financial Services Group Inc. lifted its stake in 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 purchasing an additional 572 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in Franklin Resources during the third quarter valued at approximately $121,000. Charles Schwab Investment Management Inc. lifted its stake in Franklin Resources by 44.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock valued at $60,421,000 after purchasing an additional 925,590 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in Franklin Resources during the third quarter valued at approximately $301,000. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Stock Performance

Shares of BEN opened at $19.86 on Friday. Franklin Resources, Inc. has a 12 month low of $18.83 and a 12 month high of $28.15. The company’s fifty day moving average is $20.10 and its 200-day moving average is $20.55. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $0.65 EPS. Equities analysts expect that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 annualized dividend and a yield of 6.45%. Franklin Resources’s dividend payout ratio is 196.92%.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and upped their price target for the company from $21.00 to $22.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.86.

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.