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

Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus rating of “Reduce” from the eleven ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.86.

BEN has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. TD Cowen lowered their price objective on Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Barclays raised their price objective on Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective 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. Finally, UBS Group raised their price objective on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd.

Franklin Resources Stock Performance

Franklin Resources stock opened at $20.26 on Friday. The stock’s 50-day moving average is $20.52 and its 200-day moving average is $20.82. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.63. Franklin Resources has a 12 month low of $18.83 and a 12 month high of $28.61.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) 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 company earned $0.65 earnings per share. Equities analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.32%. The ex-dividend date is Monday, March 31st. Franklin Resources’s payout ratio is currently 196.93%.

Institutional Trading of Franklin Resources

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Franklin Resources in the 4th quarter worth $53,676,000. JPMorgan Chase & Co. grew its holdings in shares of Franklin Resources by 263.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock worth $40,744,000 after acquiring an additional 1,465,148 shares during the last quarter. Amundi grew its holdings in shares of Franklin Resources by 62.9% in the 4th quarter. Amundi now owns 3,752,326 shares of the closed-end fund’s stock worth $75,928,000 after acquiring an additional 1,449,210 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Franklin Resources by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund’s stock worth $765,254,000 after acquiring an additional 1,095,373 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Franklin Resources by 9.4% in the 4th quarter. Invesco Ltd. now owns 11,721,446 shares of the closed-end fund’s stock worth $237,828,000 after acquiring an additional 1,011,755 shares during the last quarter. 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.