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

Shares of Franklin Resources, Inc. (NYSE:BEN) have been given a consensus recommendation of “Reduce” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.86.

BEN has been the topic of several analyst reports. UBS Group lifted their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Franklin Resources from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley lifted 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. Keefe, Bruyette & Woods increased their price objective on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Monday, February 3rd. Finally, Barclays raised their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd.

Hedge Funds Weigh In On Franklin Resources

A number of institutional investors have recently made changes to their positions in BEN. CoreCap Advisors LLC boosted its stake in Franklin Resources by 147.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock valued at $25,000 after purchasing an additional 737 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of Franklin Resources during the third quarter worth approximately $26,000. GeoWealth Management LLC boosted its position in shares of Franklin Resources by 350.4% during the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock worth $26,000 after buying an additional 981 shares during the period. Smartleaf Asset Management LLC grew its holdings in Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after buying an additional 505 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Franklin Resources in the 4th quarter valued at approximately $34,000. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

Shares of BEN stock opened at $20.90 on Friday. The company has a market cap of $10.98 billion, a P/E ratio of 32.15, a PEG ratio of 2.14 and a beta of 1.42. The firm has a fifty day moving average price of $20.41 and a 200 day moving average price of $20.76. The company has a current ratio of 1.66, a quick ratio of 1.63 and a debt-to-equity ratio of 0.89. Franklin Resources has a 12 month low of $18.83 and a 12 month high of $28.61.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company posted $0.65 earnings per share. Sell-side analysts predict that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio is currently 196.93%.

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.