Franklin Resources, Inc. (BEN) Given Consensus Recommendation of “Hold” by Brokerages
Franklin Resources, Inc. (NYSE:BEN) has earned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $44.36.
Several research analysts have commented on BEN shares. Barclays PLC started coverage on Franklin Resources in a research report on Friday, September 8th. They set an “underweight” rating and a $40.00 price target on the stock. BidaskClub raised Franklin Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wells Fargo & Company downgraded Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research note on Monday, July 24th. Finally, Deutsche Bank AG lifted their target price on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, July 4th.
Several institutional investors have recently bought and sold shares of the stock. Conning Inc. boosted its stake in shares of Franklin Resources by 0.9% in the second quarter. Conning Inc. now owns 8,696 shares of the closed-end fund’s stock valued at $389,000 after buying an additional 80 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Franklin Resources by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,244 shares of the closed-end fund’s stock valued at $235,000 after buying an additional 116 shares in the last quarter. NGAM Advisors L.P. boosted its stake in shares of Franklin Resources by 0.6% in the second quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock valued at $1,134,000 after buying an additional 148 shares in the last quarter. Boston Family Office LLC boosted its stake in shares of Franklin Resources by 3.0% in the second quarter. Boston Family Office LLC now owns 5,115 shares of the closed-end fund’s stock valued at $229,000 after buying an additional 150 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Franklin Resources by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 15,462 shares of the closed-end fund’s stock valued at $652,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 44.95% of the company’s stock.
Shares of Franklin Resources (BEN) traded up 0.45% during midday trading on Friday, reaching $45.07. The company had a trading volume of 2,007,734 shares. Franklin Resources has a 52-week low of $33.02 and a 52-week high of $47.65. The company’s 50 day moving average price is $43.59 and its 200 day moving average price is $43.45. The stock has a market capitalization of $25.14 billion, a PE ratio of 14.67 and a beta of 1.72.
Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Equities research analysts expect that Franklin Resources will post $2.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. Franklin Resources’s dividend payout ratio (DPR) is presently 26.14%.
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Franklin Resources Company Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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