Franklin Resources, Inc. (NYSE:BEN) Short Interest Update

Franklin Resources, Inc. (NYSE:BEN) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 21,870,000 shares, an increase of 7.0% from the March 15th total of 20,440,000 shares. Currently, 7.7% of the company’s shares are short sold. Based on an average daily volume of 3,360,000 shares, the short-interest ratio is presently 6.5 days.

Franklin Resources Stock Performance

Shares of Franklin Resources stock opened at $24.81 on Thursday. The stock’s fifty day moving average price is $27.14 and its 200-day moving average price is $26.28. Franklin Resources has a 12 month low of $21.88 and a 12 month high of $30.32. 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 firm has a market cap of $13.06 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.31 and a beta of 1.40.

Franklin Resources (NYSE:BEN) last posted its earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Franklin Resources 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. Shareholders of record on Thursday, March 28th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.24 annualized dividend and a yield of 5.00%. Franklin Resources’s dividend payout ratio (DPR) is presently 65.26%.

Hedge Funds Weigh In On Franklin Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peoples Bank KS purchased a new position in Franklin Resources in the third quarter valued at about $25,000. Blue Trust Inc. boosted 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 acquiring an additional 623 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Franklin Resources in the second quarter worth about $26,000. Resurgent Financial Advisors LLC acquired a new stake in Franklin Resources in the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc boosted its holdings in Franklin Resources by 975.5% in the third quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock worth $28,000 after acquiring an additional 1,034 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BEN shares. Deutsche Bank Aktiengesellschaft reduced their target price on Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. StockNews.com lowered Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. BMO Capital Markets raised their price target on Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Wells Fargo & Company upgraded Franklin Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $24.00 to $30.00 in a research note on Monday, January 8th. Finally, TD Cowen initiated coverage on Franklin Resources in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target on the stock. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.39.

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.