Franklin Resources, Inc. (NYSE:BEN) declared a quarterly dividend on Tuesday, December 12th, RTT News reports. Shareholders of record on Tuesday, December 26th will be given a dividend of 0.23 per share by the closed-end fund on Wednesday, January 10th. This represents a $0.92 annualized dividend and a yield of 2.09%. This is a boost from Franklin Resources’s previous quarterly dividend of $0.20.

Franklin Resources has increased its dividend by an average of 34.9% per year over the last three years and has increased its dividend annually for the last 35 consecutive years. Franklin Resources has a dividend payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Franklin Resources to earn $3.07 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 26.1%.

Franklin Resources (NYSE BEN) traded down $0.57 on Tuesday, reaching $44.10. The company’s stock had a trading volume of 1,642,800 shares, compared to its average volume of 2,244,802. Franklin Resources has a 52 week low of $38.93 and a 52 week high of $47.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75. The stock has a market capitalization of $24,743.07, a price-to-earnings ratio of 14.89, a PEG ratio of 2.45 and a beta of 1.75.

Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. research analysts predict that Franklin Resources will post 2.92 earnings per share for the current fiscal year.

In related news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of Franklin Resources stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $42.95, for a total transaction of $17,180,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory E. Johnson sold 56,825 shares of Franklin Resources stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the sale, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

BEN has been the topic of several analyst reports. Barclays initiated coverage on Franklin Resources in a research note on Friday, September 8th. They issued an “underweight” rating and a $40.00 target price on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a report on Sunday, September 3rd. Wells Fargo & Company lowered their price target on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, UBS raised their price target on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.45.

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About Franklin Resources

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.

Dividend History for Franklin Resources (NYSE:BEN)

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