Franklin Resources, Inc. (NYSE:BEN) Given Average Recommendation of “Reduce” by Analysts

Franklin Resources, Inc. (NYSE:BEN) has been given a consensus rating of “Reduce” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.50.

Several equities analysts recently commented on BEN shares. UBS Group increased their price objective on shares of Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. StockNews.com lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $24.00 to $30.00 in a research report on Monday, January 8th. Finally, BMO Capital Markets increased their price objective on shares of Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th.

Hedge Funds Weigh In On Franklin Resources

Several institutional investors have recently made changes to their positions in BEN. Peoples Bank KS purchased a new position in shares of Franklin Resources during the 3rd quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings in shares of Franklin Resources by 240.5% during the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after purchasing an additional 623 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Franklin Resources in the 2nd quarter valued at $26,000. Resurgent Financial Advisors LLC acquired a new stake in Franklin Resources in the 4th quarter valued at $27,000. Finally, Bell Investment Advisors Inc grew its stake in Franklin Resources by 975.5% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock valued at $28,000 after acquiring an additional 1,034 shares during the period. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Stock Up 0.5 %

NYSE:BEN opened at $25.15 on Friday. Franklin Resources has a fifty-two week low of $21.88 and a fifty-two week high of $30.32. The stock has a market capitalization of $13.24 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.30 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.92 and a current ratio of 1.92. The company’s 50-day simple moving average is $27.06 and its 200-day simple moving average is $26.28.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the business earned $0.51 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Resources will post 2.52 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin Resources’s dividend payout ratio is presently 65.26%.

About Franklin Resources

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.