BMO Capital Markets Issues Positive Forecast for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN) had its price target lifted by BMO Capital Markets from $20.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a market perform rating on the closed-end fund’s stock.

BEN has been the subject of a number of other reports. Barclays decreased their price objective on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. lowered their target price on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $22.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday. Finally, Morgan Stanley lifted their target price on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.86.

Franklin Resources Price Performance

Shares of Franklin Resources stock opened at $20.72 on Monday. The business’s 50 day simple moving average is $20.86 and its two-hundred day simple moving average is $20.97. Franklin Resources has a one year low of $18.83 and a one year high of $28.61. The stock has a market capitalization of $10.85 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 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 9.41%. During the same period last year, the firm earned $0.65 earnings per share. Analysts forecast that Franklin Resources will post 2.19 EPS for the current year.

Franklin Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Monday, December 30th were given a $0.32 dividend. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, December 30th. This represents a $1.28 annualized dividend and a dividend yield of 6.18%. Franklin Resources’s dividend payout ratio (DPR) is 196.92%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Franklin Resources in the third quarter worth approximately $880,000. FORA Capital LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at about $1,857,000. Principal Financial Group Inc. lifted its stake in shares of Franklin Resources by 9.3% in the third quarter. Principal Financial Group Inc. now owns 381,192 shares of the closed-end fund’s stock worth $7,681,000 after buying an additional 32,490 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Franklin Resources by 44.7% during the 3rd 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 acquiring an additional 925,590 shares in the last quarter. Finally, Swedbank AB raised its holdings in Franklin Resources by 78.3% in the 3rd quarter. Swedbank AB now owns 62,076 shares of the closed-end fund’s stock valued at $1,251,000 after acquiring an additional 27,259 shares during the last quarter. Institutional investors and hedge funds 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.