Franklin Resources, Inc. (NYSE:BEN) Receives $20.86 Average PT from Analysts

Shares of Franklin Resources, Inc. (NYSE:BEN) have been assigned an average rating of “Reduce” from the eleven brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $20.86.

BEN has been the topic of a number of recent analyst reports. UBS Group upped their price objective on Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $21.00 to $22.00 in a report on Monday, January 6th. BMO Capital Markets upped their price objective on Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Wells Fargo & Company upped their price objective on Franklin Resources from $20.50 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Monday, February 3rd.

Institutional Trading of Franklin Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of Franklin Resources by 47.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 48,954 shares of the closed-end fund’s stock valued at $993,000 after acquiring an additional 15,758 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of Franklin Resources in the fourth quarter valued at $3,020,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Franklin Resources in the fourth quarter valued at $2,156,000. Perennial Advisors LLC purchased a new stake in shares of Franklin Resources in the fourth quarter valued at $295,000. Finally, Toronto Dominion Bank lifted its position in shares of Franklin Resources by 7.5% in the fourth quarter. Toronto Dominion Bank now owns 162,446 shares of the closed-end fund’s stock valued at $3,296,000 after acquiring an additional 11,367 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Resources Trading Up 1.4 %

NYSE:BEN opened at $19.79 on Tuesday. The firm has a market cap of $10.40 billion, a P/E ratio of 30.45, a PEG ratio of 2.31 and a beta of 1.42. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock’s 50 day simple moving average is $20.08 and its 200-day simple moving average is $20.57. Franklin Resources has a 12-month low of $18.83 and a 12-month high of $28.15.

Franklin Resources (NYSE:BEN) last released 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 EPS. Equities analysts anticipate that Franklin Resources will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.47%. Franklin Resources’s dividend payout ratio is currently 196.92%.

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.