Franklin Resources Sees Unusually Large Options Volume (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) saw some unusual options trading on Monday. Investors bought 9,664 put options on the stock. This represents an increase of approximately 509% compared to the typical daily volume of 1,586 put options.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $19.79 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50-day simple moving average is $20.08 and its 200 day simple moving average is $20.57. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 2.31 and a beta of 1.42. Franklin Resources has a fifty-two week low of $18.83 and a fifty-two 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, beating 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 period last year, the firm earned $0.65 EPS. As a group, research analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio is 196.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BEN shares. Barclays lifted their target price on Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. BMO Capital Markets boosted 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 report on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Monday, January 6th. Finally, UBS Group raised their target price on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Four investment 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 stock currently has an average rating of “Hold” and an average price target of $20.86.

Institutional Trading of Franklin Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC grew its position in Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 737 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock worth $26,000 after buying an additional 981 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 505 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Franklin Resources during the fourth quarter valued at approximately $34,000. Finally, Larson Financial Group LLC lifted its holdings in Franklin Resources by 254.4% during the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after acquiring an additional 1,277 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

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.