Franklin Resources, Inc. (NYSE:BEN) Receives $20.18 Consensus Target Price from Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus recommendation of “Reduce” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.18.

Several equities research analysts have weighed in on BEN shares. Evercore ISI dropped their price target on shares of Franklin Resources from $20.00 to $19.00 and set an “underperform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley upped their price target on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. StockNews.com upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Barclays decreased their target price on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, January 17th.

Franklin Resources Stock Up 0.5 %

BEN opened at $20.08 on Monday. The company has a market cap of $10.52 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.28 and a beta of 1.41. Franklin Resources has a 12 month low of $18.83 and a 12 month high of $28.61. The business’s 50-day moving average price is $21.00 and its 200-day moving average price is $21.10. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Franklin Resources will post 2.32 EPS for the current year.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 6.37%. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, December 30th. Franklin Resources’s dividend payout ratio (DPR) is presently 148.84%.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds have recently bought and sold shares of BEN. MFA Wealth Advisors LLC purchased a new position in shares of Franklin Resources during the third quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new position in shares of Franklin Resources during the second quarter valued at $27,000. Matrix Trust Co purchased a new position in shares of Franklin Resources in the 3rd quarter worth about $29,000. Larson Financial Group LLC boosted its stake in Franklin Resources by 254.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Franklin Resources during the 3rd quarter valued at about $39,000. 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.