Franklin Resources, Inc. (NYSE:BEN) Receives Consensus Rating of “Reduce” from Analysts

Franklin Resources, Inc. (NYSE:BEN) has received a consensus rating of “Reduce” from the eleven research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.86.

A number of research firms recently issued reports on BEN. Barclays increased their price objective 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 raised their price target on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price target on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Finally, Wells Fargo & Company raised their price target on Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd.

Franklin Resources Stock Up 3.4 %

NYSE:BEN opened at $19.56 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 company has a market cap of $10.27 billion, a PE ratio of 30.09, a PEG ratio of 2.31 and a beta of 1.42. Franklin Resources has a 52-week low of $18.83 and a 52-week high of $28.15. The stock has a 50-day simple moving average of $20.08 and a 200 day simple moving average of $20.56.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts expect that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.55%. Franklin Resources’s dividend payout ratio is currently 196.92%.

Institutional Trading of Franklin Resources

Several hedge funds have recently added to or reduced their stakes in BEN. Principal Financial Group Inc. lifted its holdings in Franklin Resources by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 381,192 shares of the closed-end fund’s stock worth $7,681,000 after purchasing an additional 32,490 shares during the last quarter. Assetmark Inc. acquired a new stake in Franklin Resources during the 3rd quarter worth approximately $46,000. Covestor Ltd lifted its holdings in Franklin Resources by 58.8% during the 3rd quarter. Covestor Ltd now owns 7,415 shares of the closed-end fund’s stock worth $150,000 after purchasing an additional 2,746 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Franklin Resources by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 100,834 shares of the closed-end fund’s stock worth $2,032,000 after purchasing an additional 6,524 shares during the last quarter. Finally, Versor Investments LP lifted its holdings in Franklin Resources by 21.9% during the 3rd quarter. Versor Investments LP now owns 51,500 shares of the closed-end fund’s stock worth $1,038,000 after purchasing an additional 9,247 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

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.