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

Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus rating of “Reduce” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.96.

BEN has been the subject of several recent analyst reports. Barclays lowered their target price on Franklin Resources from $22.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. TD Cowen cut their target price on Franklin Resources from $20.00 to $17.50 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday, February 3rd. Finally, Bank of America reduced their price objective on shares of Franklin Resources from $20.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BEN. Xponance Inc. raised its holdings in shares of Franklin Resources by 1.2% during the fourth quarter. Xponance Inc. now owns 43,687 shares of the closed-end fund’s stock valued at $886,000 after buying an additional 497 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 505 shares in the last quarter. Bessemer Group Inc. boosted its position in Franklin Resources by 6.2% during the 4th quarter. Bessemer Group Inc. now owns 8,789 shares of the closed-end fund’s stock worth $177,000 after acquiring an additional 510 shares during the period. Hardy Reed LLC grew its stake in shares of Franklin Resources by 3.7% in the fourth quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund’s stock worth $339,000 after purchasing an additional 591 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of Franklin Resources by 30.2% during the third quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after purchasing an additional 604 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

Shares of NYSE:BEN opened at $18.77 on Wednesday. The business’s 50-day simple moving average is $19.03 and its 200 day simple moving average is $20.22. The company has a market cap of $9.86 billion, a P/E ratio of 28.87, a PEG ratio of 2.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. Franklin Resources has a one year low of $16.25 and a one year high of $24.86.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same quarter in the previous year, the company earned $0.65 EPS. On average, sell-side analysts forecast that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend was Monday, March 31st. Franklin Resources’s payout ratio is 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.