UBS Group Issues Positive Forecast for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN) had its price objective lifted by UBS Group from $19.00 to $23.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the closed-end fund’s stock.

A number of other equities analysts have also recently issued reports on the company. TD Cowen decreased their target price on Franklin Resources from $20.00 to $18.50 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Monday. BMO Capital Markets lifted their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday. The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and upped their price target for the company from $21.00 to $22.00 in a research report on Monday, January 6th. Finally, Barclays lowered their price objective on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, Franklin Resources presently has an average rating of “Hold” and an average price target of $20.86.

Franklin Resources Stock Down 6.9 %

BEN stock opened at $20.72 on Monday. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. 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 has a 52 week low of $18.83 and a 52 week high of $28.61. The firm’s 50-day moving average is $20.86 and its two-hundred day moving average is $20.97.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating 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 quarter last year, the firm earned $0.65 earnings per share. On average, analysts forecast that Franklin Resources will post 2.19 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The company 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 is a boost from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.28 annualized dividend and a dividend yield of 6.18%. Franklin Resources’s payout ratio is presently 196.92%.

Hedge Funds Weigh In On Franklin Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MFA Wealth Advisors LLC acquired a new stake in shares of Franklin Resources in the 3rd quarter valued at $26,000. Matrix Trust Co bought a new stake in shares of Franklin Resources during the 3rd quarter worth about $29,000. Larson Financial Group LLC increased its holdings in shares of Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after acquiring an additional 1,277 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Franklin Resources in the 3rd quarter valued at approximately $39,000. Finally, Principal Securities Inc. lifted its holdings in Franklin Resources by 561.1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock worth $40,000 after purchasing an additional 1,661 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

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.