Franklin Resources, Inc. (NYSE:BEN) – Stock analysts at Jefferies Group issued their Q2 2019 earnings per share estimates for shares of Franklin Resources in a research note issued on Wednesday. Jefferies Group analyst D. Fannon forecasts that the closed-end fund will post earnings of $0.86 per share for the quarter. Jefferies Group also issued estimates for Franklin Resources’ Q3 2019 earnings at $0.88 EPS and Q4 2019 earnings at $0.90 EPS.

BEN has been the subject of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a report on Thursday, October 12th. Wells Fargo & Co reduced their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Citigroup reduced their price target on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, October 3rd. Finally, ValuEngine downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.45.

Franklin Resources (BEN) traded up $0.59 during trading on Friday, reaching $44.53. 1,996,244 shares of the company’s stock were exchanged, compared to its average volume of 2,480,411. The firm has a market capitalization of $24,540.00, a P/E ratio of 14.79, a PEG ratio of 2.33 and a beta of 1.75. The company has a current ratio of 8.75, a quick ratio of 8.75 and a debt-to-equity ratio of 0.08. Franklin Resources has a 1 year low of $39.38 and a 1 year high of $47.65.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. Franklin Resources had a net margin of 29.47% and a return on equity of 13.55%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of BEN. JPMorgan Chase & Co. raised its stake in shares of Franklin Resources by 225.5% during the third quarter. JPMorgan Chase & Co. now owns 3,153,748 shares of the closed-end fund’s stock valued at $140,499,000 after purchasing an additional 2,184,863 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Franklin Resources by 138.7% during the third quarter. Ameriprise Financial Inc. now owns 3,372,129 shares of the closed-end fund’s stock valued at $150,106,000 after purchasing an additional 1,959,427 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Franklin Resources by 57.3% during the third quarter. APG Asset Management N.V. now owns 3,906,627 shares of the closed-end fund’s stock valued at $173,884,000 after purchasing an additional 1,422,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Franklin Resources by 35.9% during the third quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after purchasing an additional 1,288,818 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Franklin Resources by 70.2% during the second quarter. Nordea Investment Management AB now owns 1,689,754 shares of the closed-end fund’s stock valued at $75,684,000 after purchasing an additional 696,730 shares in the last quarter. Institutional investors and hedge funds own 44.72% of the company’s stock.

In other news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the transaction, the chairman now owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gregory E. Johnson sold 49,988 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $43.58, for a total transaction of $2,178,477.04. Following the transaction, the chairman now directly owns 2,116,886 shares of the company’s stock, valued at approximately $92,253,891.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,603 shares of company stock valued at $22,134,429. Corporate insiders own 22.20% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th were issued a dividend of $0.23 per share. This is an increase from Franklin Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $0.92 annualized dividend and a dividend yield of 2.07%. Franklin Resources’s payout ratio is 30.56%.

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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.

Earnings History and Estimates for Franklin Resources (NYSE:BEN)

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